Pakistan is preparing its 2026-27 budget with an IMF-linked reform programme, aiming to lift defence spending by about PKR 100 billion. Defence expenditure is estimated at PKR 2.665 trillion, up from PKR 2.564 trillion this year. The IMF projects federal revenues to climb to PKR 17.144 trillion, over PKR 2 trillion higher than the current year, alongside a 13.5% increase. The plan also includes digitising all federal and provincial payments by June 2027, identifying 10 corruption-prone institutions, and strengthening provincial anti-corruption agencies.
A senior Pentagon official says the US war in Iran has already cost about $25 billion. Democrats are using the mounting price tag ahead of mid-term elections, pointing to wider fallout including disruptions to oil and gas shipments that have pushed up gasoline prices. Public approval for the conflict is reportedly low, intensifying political pressure.
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Global military spending climbed to $2.887 trillion in 2025 for an 11th straight year. India ranked fifth, boosting defense budgets by 8.9% to $92.1 billion. The report links part of the increase to the India-Pakistan conflict in May 2025, with the United States, China, Russia, and Germany also among the biggest spenders.
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