plunging oil price to reset global defence budgets
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Plunging oil price to reset global defence budgets

Arab Today, arab today

Arab Today, arab today Plunging oil price to reset global defence budgets

A flame from a Saudi oil installion in the desert near the oil-rich area
London - AFP

Global defence spending is likely to remain constant for the next two years as tumbling oil prices cut the budgets of Middle East exporters, but swell the coffers of Asia-Pacific importers, defence analysts IHS said Friday.
With Brent crude recently falling below the symbolic $60 dollar (48.8 euros) mark -- a 50 percent drop since mid-June -- the defence budgets of countries in the Middle East and North Africa are likely to fall to normal levels, having grown by almost 30 percent between 2011 and 2014, according to the study, released in London.
By contrast, "falling oil prices are expected to have a net positive effect upon economic growth in China, India and Indonesia and will aid government finances," said Craig Caffrey, senior defence budgets analyst at IHS Aerospace & Defence.
"Key regional markets such as Indonesia, Malaysia and South Korea have outlined plans for increases in military spending while growth in India and China is expected continue at rates above five percent in real terms," he explained.
Global annual spending on defence grew by 0.85 percent to $1.597 billion in 2014, the first increase in four years, aided by a slowdown in US budget cuts and a 17.8 percent growth in Russian military spending.
Defence budgets should continue to stabilise following the chaos of the financial crisis, although global political developments could still play a major role, according to the report.
"Despite the continued importance of the global economic climate upon defence resourcing, the crisis in Ukraine and the emergence of Islamic State (IS) in Iraq and Syria over the course of 2014 have demonstrated the extent to which geo-political developments can still have a significant impact upon military spending," it said.
The US firm also predicted that by 2019, NATO "will fail to account for the majority of worldwide defence expenditure for the first time in its history having accounted for almost two-thirds of global spending as recently as 2010."

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

plunging oil price to reset global defence budgets plunging oil price to reset global defence budgets

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

plunging oil price to reset global defence budgets plunging oil price to reset global defence budgets

 



GMT 12:48 2016 Sunday ,27 November

Cilic, Dodig push Croatia to brink of Davis Cup

GMT 05:24 2017 Thursday ,28 December

Erdogan says 'terrorist' Assad cannot be part of Syria

GMT 12:59 2016 Saturday ,05 November

WB welcomes economic reforms in Egypt

GMT 18:40 2016 Saturday ,05 November

Egyptian GDRs in London down

GMT 10:57 2017 Wednesday ,06 December

Peru striker Guerrero has doping ban extended

GMT 17:51 2017 Tuesday ,07 March

Trump Signs New Travel Ban on Six Muslim Countries

GMT 10:30 2017 Wednesday ,06 September

Saudi Information Ministry praises media role during Hajj

GMT 15:29 2017 Tuesday ,24 January

Mind games really do help your brain

GMT 06:55 2015 Thursday ,01 October

Boston Red Sox beat Yankees

GMT 08:17 2017 Monday ,28 August

Bahrain celebrates World Humanitarian Day 2017

GMT 02:07 2017 Tuesday ,28 February

Opposition seeks Russian support at Syria talks
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday