Recent Study: Egypt Defence & Security Report Q4 2014

We expect Egypt's defence budget to reach USD5.4bn in 2014. We anticipate that it will increase to USD5.9bn in 2016 and then to USD6.5bn the following year. The final two years of our forecast period will see Egypt's defence budget increasing firstly to USD7.1bn in 2017 and then to USD7.6bn during 2018.

We have given Egypt an overall Security Risk rating of 59 for Q414. On average, Egypt has retained an overall Security Risk rating of 55 for the period December 2007 until Q414. Egypt faces a number of distinct security challenges. The country has a moderate risk of becoming involved in a major interstate conflict. Similarly, it has a moderate chance of experiencing a major terrorist attack along with the strong possibility that it is also likely to experience significant levels of criminal activity in the future.

In early June 2014, Egypt's former Chief of the General Staff and defence minister, Field Marshal Abdel Fattah al-Sisi, was declared the victor in Egypt's Presidential election and sworn into office. Among his first acts were an increase in fuel prices and a cut of subsidies for food and energy. Taxes have also been raised on alcohol and cigarettes, with plans afoot to introduce a new property tax and to overhaul the government's goods and services tax. The decision to raise taxes is a bold move in a country where a significant proportion of the population live below the poverty line.

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In procurement news, Egypt has procured four 'Gowind' class corvettes from French shipbuilder DCNS. The deal for the acquisition was signed on July 11 2014. The first ship in the class will be constructed in France, with the remainder being built locally in Egyptian yards. Similarly, the Egyptian Air Force will receive new Airbus Military C-295 turboprop freighters following a deal signed to this effect with the aircraft's manufacturer in mid-July 2014.

The Egypt Defence & Security Report features Business Monitor International (BMI)'s independent forecasts for national and international security, the defence industry, military expenditure, employment in arms production, and arms imports and exports, as well as examining industry trends and prospects, national and multinational arms producers and the regulatory environment.

BMI's Egypt Defence & Security Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Egyptian defence and security industry.

Key Benefits

* Benchmark BMI's independent defence and security industry forecasts on Egypt to test other views - a key input for successful budgetary and strategic business planning in the Egyptian defence and security market.

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