The forecast for Saudi Arabia's military expenditure as a percentage of General Government Expenditure from 2024 to 2028 stands consistently at 26.94%. This data indicates a stable spending outlook, highlighting no year-on-year variation over the forecasted period. In 2023, the actual percentage of military expenditure was also 26.94%, showing no change from 2023 to 2024. Therefore, the last two years showed a 0% variation year-on-year. The Compound Annual Growth Rate (CAGR) over the past five years also stands at 0%.
Future trends to watch for include potential geopolitical shifts in the region, changes in oil prices influencing government revenues, and strategic defense partnerships that could impact budget allocations. Monitoring these factors will be crucial in assessing any future deviations from the current forecast.
