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More Than $40bln Allocated to 2024 Defense Budget

TURKEY
  • “Targeting a hospital with women, children and innocent civilians inside is the latest example of Israel’s attacks that are devoid of the most basic human values,” President Erdogan said in post on X.
  • Turkey will allocate more than $40bln to its defense budget in 2024, Reuters report citing a presentation by the vice president, marking a 150% increase from this year's budget. Turkey has faced challenges in procurement after the US administration excluded Turkey from the F-35 joint program due to Ankara's purchase of a Russian S-400 missile system in 2017.
  • Turkey will not hesitate to continue to hit the economic infrastructure and other targets of the YPG in northern Syria, Hurriyet report, and repeated its call to the US to stand with its NATO ally. US-Turkey ties have been strained after the US downed a Turkish drone which was sent to hit YPG targets in northern Syria. The YPG is designated as a terrorist organisation by Turkey.
  • Turkey’s Foreign Minister Hakan Fidan will participate in the Organization of Islamic Cooperation summit in Jeddah, Saudi Arabia. No data releases are on the docket today.
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