Israel Could Boost Military Spending

7 March 2011 (Last Updated March 7th, 2011 18:30)

Israel will need to boost its military spending to manage future possible threats originating from the recent political upheavals in Middle East nations, Defence Minister Ehud Barak has said. "The issue of qualitative military aid for Israel becomes more essential for us. It might be wise

Israel will need to boost its military spending to manage future possible threats originating from the recent political upheavals in Middle East nations, Defence Minister Ehud Barak has said.

"The issue of qualitative military aid for Israel becomes more essential for us. It might be wise to invest another $20bn to upgrade the security of Israel for the next generation or so," he added.

The minister also said that the country would have to increase its spending over the long-term and may seek an additional $20bn in US security assistance.

According to defence analysts, Israel spends about $17bn per year on defence, of which US military assistance accounts for $3bn, according to the Wall Street Journal.

Israel will have to accept the Obama Administration proposal to resume US-mediated talks with Palestine in order to seek additional military aid, Barak added.