Turkey to increase weapons and ammunition funding by 229 percent in 2027

Turkey plans to increase the funds allocated for the purchase of weapons, ammunition and weapon systems by 229 percent in the 2027 budget, Turkish Treasury and Finance Minister Mehmet Simsek has announced.

He announced this plan last week at the Istanbul Economic Forum, emphasizing that investments in defense are necessary in an international environment characterized by armed conflicts.

According to the Clash Report portal, the draft budget provides for about $45 billion for defense and an additional $26 billion for homeland security. The 229 percent increase relates to funds for the purchase of weapons, ammunition and weapons systems, not the entire defense budget.

Şimşek also stated that Turkey is among the ten largest arms exporters in the world. According to him, the value of research and development projects in the defense sector exceeds 100 billion dollars, while around 1.400 projects for new products are being developed.

Data cited by Clash Report shows that exports from the Turkish defense and aerospace industry reached about $6.9 billion during the first nine months of this year. In the last 12 months, they have exceeded the $10 billion mark.

However, the draft budget still needs to be submitted to the Turkish Grand National Assembly, which will determine the final amounts. Details on the financing of specific military procurement programs have not yet been made public.