The Military Balance is an annual, quantitative assessment of the military power and defence expenditure of countries throughout the world. It examines the facts of military power as they existed in July 1975, and no projections of force levels or weapons beyond this date have been included, except where explicitly stated. The study should not be regarded as a comprehensive guide to the balance of military power; in particular, it does not reflect the facts of geography, vulnerability or efficiency, except where these are touched upon in the section on the balance in Europe