South American Defense Spending Continues to Decline with Brazil’s Latest Cut the Largest in a Decade

ENGLEWOOD, Colo. (June 17, 2016) – With South America’s total defense spend equivalent to roughly 1.2 percent of the region’s gross domestic product (GDP), the lingering economic crisis plaguing the region will continue to force budget cuts through 2020. IHS Inc. (NYSE: IHS), the leading global source of critical information and insight estimates that between 2015 and 2020, South America’s cumulative defense spend will be USD$238 billion, or 11 percent lower than the previous five years, when spending totaled USD$269 billion.

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