Report: Bahrain Increases Spending on Armament by Double in 2016
2016-07-26 - 8:50 p
Bahrain Mirror: A report issued by British defense and intelligence publication HS Jane's revealed that Bahrain has increased its spending on armament equipment, by more than its double during 2016.
The publication's defense analyst Ben Moores, said that Bahrain has ordered defense imports estimated at $80 million in 2016, compared with $30 million in 2015. Moores also told Gulf News Daily that the deliveries the publication believes "were received by Bahrain last year included AIM-120C-7 (medium range air to air missile) worth $16m".
In addition, he noted that the armament deliveries included "VVG-2 (laser rangefinder receivers) worth $4m, Javelin CLU (anti-tank missile) costing $3m and F-16 services for maintenance worth $10m". According to HS Jane's forecasts, Bahrain will receive this year Cobra helicopters worth $64 million.
It is noteworthy that Bahrain suffers from a deteriorating economic situation, in light of the political crisis that has crippled the country since 2011. This also comes amid a sharp drop in oil prices last year, while the country's deficit reached a deficit of $3.9 billion (1.5 billion dinars). Meanwhile, Bahrain's debt stood at $17.4 billion (6.6 billion dinars), which led many international rating agencies to decrease its credit rating and give a negative view of the future of its economy.
Based on recommendations from the International Monetary Fund and the World Bank, Bahrain came up with a package that changed the shape of the dominant economy in the country, which was established since founding its administrative system. Bahrain did this in order to reduce public spending and reduce the pressure on budget. Among the procedures adopted in this regard were removing subsidies on petrol, electricity, and meat, in addition to increasing a lot of government fees and fines and imposing trade taxes.
Bahrain spends enormous sums on the security and military sector; more than $1.4 billion (529 million Dinar), according to statistics of the Stockholm International Peace Research Institute.
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