WASHINGTON (Pakistan Point News / Sputnik - 16th October, 2019) The US Defense Department sold more than $55 billion in arms to American allies and partner nations in the 2019 fiscal year, which ended September 30, the Defense Security Cooperation Agency (DSCA) said in a press release on Tuesday.
"The Defense Security Cooperation Agency announces arms sales of $55.4 billion for Fiscal Year 2019," the release said. "This total increases the three-year rolling average to $51 billion, demonstrating continued strength in the sales of US defense articles and services to allies and foreign partners."
In 2018, DSCA announced plans to lower the Contract Administration Surcharge on major arms sales from 1.2 percent to 1 percent, to reduce costs of foreign military sales, the release noted.
In addition, DSCA is developing new financing options for big-ticket purchases, to be announced in 2020, the release added.
