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Plunging oil price to reset global defence budgets: IHS London (AFP) Dec 19, 2014 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 20 ... read more |
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