MercoPress. South Atlantic News Agency

Brazil to spend nearly three-quarters of its 2027 defence budget on personnel and pensions

Brazil plans to allocate 147.68 billion reais to defence in 2027, about US$27 billion at current exchange rates, but 73% of that will go on salaries, retirement benefits and pensions, according to the budget bill sent to Congress. With only 8.6% set aside for investment, the country will have to decide the pace of programmes that include fighter jets, frigates, armoured vehicles and a nuclear-powered submarine. Read full article