Iraq Defence and Security Report 2016 - Business Monitor International - Industry Reports

Iraq Defence and Security Report 2016

Iraq Defence and Security Report 2016 - Business Monitor International - Industry Reports
Iraq Defence and Security Report 2016
Published Oct 01, 2016
33 pages — Published Oct 01, 2016
Price US$ 1,295.00  |  Buy this Report Now

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Abstract:

Iraqi defence expenditure has seen substantial growth over the past decade, with Baghdad working to rebuild its armed forces in the post-Saddam Hussein era. Over --------- - despite a sharp drop in the country s economic growth amid elevated security risks and declining global oil prices - military spending further increased, making up as much as --- of GDP, reflecting intensifying levels of terrorism, sectarian violence and political instability. In ----, while the Iraqi military continues its campaign against Islamic State (IS) in the north and west of the country, we expect the defence budget to remain high as a proportion of GDP - at --.- . However, given our Country Risk team s forecast for a recession in the Iraqi economy this year - as high levels of violence and low oil prices (averaging USD--.- per barrel for Brent) continue to weigh on overall economic growth, with business confidence, government revenues and foreign currency earnings negatively impacted - we expect defence spending to contract in nominal terms, to IQD--.-bn (USD--.-bn). The majority of the defence budget will go towards operational expenses; however, the armed forces are also in urgent need of a range of ground-based equipment, such as small arms and ammunition, artillery and armoured vehicles. We do highlight that at present, Iraq s government receives substantial amounts of military aid from its strategic partners. Moreover, many of its military equipment acquisitions are facilitated by flexible payment arrangements - notably through the US Foreign Military Financing programme.

...In August ----, the US Department of Defense (DoD) approved the delivery of an undisclosed number of Boeing ScanEagle UAS to Iraq under a USD-.-mn contract. In the same month, the Iraqi air force (IqAF) took delivery of another Beechcraft King Air --- extended range (ER) aircraft modified with intelligence, surveillance and reconnaissance (ISR) capability. ...In August ----, the US Department of Defense (DoD) approved the delivery of an undisclosed number of Boeing ScanEagle UAS to Iraq under a USD-.-mn contract. In the same month, the Iraqi air force (IqAF) took delivery of another Beechcraft King Air --- extended range (ER) aircraft modified with intelligence, surveillance and reconnaissance (ISR) capability. As the DoD has previously issued a notification of a -- King Air ---ER aircraft requirement from Iraq, more deliveries are likely to follow over coming quarters. ...In December ----, the Iraqi defence ministry reported it had received a number of tanks, armoured vehicles and ammunition from Bulgaria. In June ----, the US signed a declaration of intent to offer a USD-.-bn Foreign Military Financing credit line to Baghdad, allowing the latter to postpone payment for equipment and services linked to its F--- and M-A- tanks orders.

...Iraq will face substantial threats to its security environment beyond the next five years, as authorities struggle to rebuild security structures amid heightened risks of sectarian violence, terrorism, crime and political unrest. When the threat from IS and other extremist groups is eventually reduced, and economic growth speeds up, we expect more funding to become available under the defence budget for procurement programmes. ...

  
Source:
Document ID
1749-1452
Country
Industry
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "Iraq Defence and Security Report 2016" Oct 01, 2016. Alacra Store. Dec 06, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Iraq-Defence-and-Security-Report-2016-2026-442>
  
APA:
Business Monitor International - Industry Reports. (2016). Iraq Defence and Security Report 2016 Oct 01, 2016. New York, NY: Alacra Store. Retrieved Dec 06, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Iraq-Defence-and-Security-Report-2016-2026-442>
  
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