Azerbaijan has been ranked among the world`s top five countries with military expenditure as a share of gross domestic product (GDP), according to the report “Trends in world military expenditure" of the Stockholm International Peace Research Institute (SIPRI), AzVision.az reports.
Azerbaijan was placed at the fifth following Oman, Kuwait, Saudi Arabia and Algeria.
The report mentioned that last year`s military expenditures in Azerbaijan amounted to 5.3 percent of GDP, followed by Israel, who allocated 5.2 percent of its GDP for military purposes.
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