Burma has allocated K1.8tr ($2.04bn) for military expenditure, which coincides with the purchase of 20 Russian MiG-29 fighter jets.
The purchase forms part of Burmese Government plans to expand the Myanmar Air Force.
Go deeper with GlobalData
The MiG-29 acquisition is expected to double the size of the air force fighter aircraft fleet and follows the purchase of used MiG-29s from Belarus.
The additional 20 MiGs, purchased from Russian state exporter Rosoboronexport for an estimated $553m, will increase the Burmese military’s aerial capabilities.
A breakdown of the budget received by DVB shows that the military expenditure includes a K848bn ($9.6m) capital account dedicated to new investments or purchases.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
