Organised for the third time in the Azerbaijani capital of Baku, ADEX Defence Exhibition bore signs of economic instability yet rising importance of defence in the country.
The sharp drop in oil prices between July 2014 and January 2016 had necessitated consecutive budget cuts. As a result, Special Defence Projects, constituting 40 per cent of total defence expenditures, would no longer receive a share in the budget. This was followed by a 42.4 per cent cut in defence expenditures. The 2018 budget allocated $1.59bn for defence, reflecting 3.7 per cent increase.
