10 percent decline in Gulf defence spending expected in 2021, says Janes
A challenging economic picture during 2020 and changing dynamics in procurement processes, timelines and requirements may alter the longer-term growth of defence budgets in the region.ABU DHABI (18 February 2021) – The latest analysis from Janes highlights that defence spending in Gulf Co-operation Council (GCC) countries is to decline by 9.4% in 2021, as countries in the region face pressure due to the impact of Covid-19 and low oil prices. However, the trusted global agency for open-source defence intelligence expects a swift rebound in coming years.