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Gulf defence spending to rebound to pre-pandemic levels by 2024, Janes says

Gulf countries’ defence spending is expected to recover to pre-pandemic levels by 2024 following declines starting this year due to the impact of low oil prices and the Covid-19 crisis, according to defence intelligence specialist Janes.

Defence expenditure in the Gulf will rebound as government revenues increase due to improvements in regional economies, Janes said in a report on Thursday.

“Defence budgets will return to pre-pandemic levels by 2024, with procurement expenditure expected to reach 2019 levels by 2022,” Charles Forrester, lead analyst at Janes, said.

Defence expenditure in the Gulf is projected to drop 9.4 per cent in…

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