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London think tank the International Institute for Strategic Studies (IISS)’s annual Military Balance shows that Oman retains its position of having the largest defence budget as a percentage of GDP, at 12%, up from 9.9% in 2019. Kuwait and Saudi Arabia are in joint fourth place in the IISS rankings of the world’s biggest defence spenders, at 7.1% of GDP each. Iraq, the UAE and Qatar also make the global top 15 on this measure, with 5.8%, 5.6% and 4.4% of their respective GDPs.
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