Globes reported Sunday that in 2014 Israel spent 5.2% of its GDP (gross domestic product) on defense.
By i24news
Israel is ranked 7th in world for defense spending and 17th when it comes to total military spending, Globes reported Sunday.
Israeli Defense Minister Moshe Yaalon (L) in the cockpit of an F-35 – Photo: LOCKHEED MARTIN
The report on the 25 countries with the most defense spending, Global Aerospace and Defense Outlook 2016, was conducted by the Deloitte consulting firm.
It showed that in 2014, Israel spent 5.2 percent of its gross domestic product (GDP) on defense, said Globes.
Israeli New Shekel Exchange Rate