Swiss defense budget to reach $6.5bn by 2023.

Switzerland’s defence spending is estimated to reach $6.5bn in 2023, registering a compound annual growth rate (CAGR) of 4.67% between 2019 and 2023 according to a report by Strategic Defence Intelligence (SDI).

Mortar team of the Swiss army (Picture source: Blick.ch)

Swiss defence budget spending in 2018 reported an increase of 6.7% in comparison with 2017, driven by the country’s need to invest in new technologically advanced military equipment and devices to replace outdated equipment.

Allocation of capital expenditure is anticipated to increase to an average of 24.7% of the total defence budget over the forecast period, compared with the average of 22.7% recorded during 2014-18.