Yesterday, the Saudi government approved the budget for 2023, which is 297 billion dirhams. The important section is the defense budget, which next year will be about $70 billion compared to about $46 billion in 2022.
Saudi officials claim that the huge increase in military spending is due to "regional and global escalation."
Saudi Arabia, which enjoys huge oil revenues this year, is allocating large sums to military equipment due to the fear of Iran and the lesson it learned from the Russian invasion of Ukraine.
It is likely that other Gulf states that are enjoying economic prosperity this year due to high oil prices will try to arm themselves and equip themselves next year with the most advanced military equipment on the market.