Turkiye’s defense budget reaches $75B

The budget of Turkiye’s defense projects, taking into account ongoing projects, has grown to $75 billion, Head of the Defense Industry Agency under the Turkish Presidential Administration Ismail Demir said on December 8 in Istanbul, Report informs referring to Anadolu Agency.

“While a total of 62 defense projects were implemented in 2002, today this figure has increased to more than 750. While earlier the projects were implemented at a budget of $5.5 billion, now this figure has increased 11 times and reached 60 billion. Taking into account ongoing projects, this figure has reached $75 billion. While earlier the number of defense companies was 56, now this figure has increased to 2,000,” Demir said.

He focused on the fact that Turkiye has achieved great success in the development of the defense industry, in particular in the field of creating its own helicopters, unmanned aerial vehicles, missiles, ships and even aircraft.

“We have achieved great results compared to what we had 20 years ago, but we still have a long way to go. Turkiye’s defense industry exports will exceed $4 billion by the end of the year,” he added.