August 9, 2006
Venezuela has one of the lowest defence expenditure percentage in Latin American

(El Nacional) - "Latin America is a pacific region that in 2005 invested 1.4% of its GDP in defence expenditure. This is one the lowest budgets in the world, according to a report by the Latin American Defence and Safety Network (Resdal).

According to Jaime Larreta, former Argentinean Deputy Minister of Defence and member of Resdal, this region 'is the place in the world with the lowest expenditure in defence' (...)

In 2005, Ecuador was the country with the highest expenditure in defence with $1,000 million, equivalent to 3.67% of its GDP. The second country with the highest expenditure in defence was Chile with $3,300 million in 2005, equivalent to 3.54% of its GDP.

The lowest expenditure in defence was shown by Colombia, a country that has a long running four decade conflict with internal justifyist guerrillas and rightist paramilitaries, which spent $11,000 million, equivalent to 1.84% of its GDP.

In contrast, Mexico, Honduras, Guatemala and El Salvador are the Latin American countries with the lowest expenditure in defence: not higher than 0.69% of their GDP.

At the bottom of the list, we can also find Peru with expenditure in defence of $1,042 million, equivalent to 1.54% of its GDP and Venezuela with $1,780 million, representing 1.66% of its GDP (...)

Resdal is a non profit organisation of 250 academics and former militaries of the region, which each year gives an index of military expenditure under the perspective of contributing to the Latin American transparency on this issue".