DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/1ee0e4/spain_defence_and) has announced the addition of the "Spain Defence and Security Report Q1 2011" report to their offering.
Business Monitor International's Spain Defence and Security Report provides industry professionals and strategists, corporate analysts, defence and security associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Spain's defence and security industry.
As one of the PIGS European economies, Spain has difficult financial problems to deal with. Given the recent Irish bail-out, eyes are on the Zapatero government to bring spending under control. The bail-out of Ireland should hopefully stop the spread of the contagion to the other peripheral eurozone countries by reassuring investors of the political will behind the eurozone project. However, this is still far from certain. Domestically, long promised labour reforms are essential, as is a steady hand on fiscal consolidation. Export-led growth is also critical, as Prime Minister Zapatero reiterated in November 2010. Unemployment is currently running at around an official mark of 20% and is suspected to be higher. This has brought into question the role the approach government should take in addressing its fiscal position, with 1% growth predicted for 2011, shrinking tax revenues and a depressed property market.
This has strongly effected domestic defence spending. In October 2010, it was revealed that the overall budget for 2011 will be EUR7.1bn, which suggests a headline reduction of 7% over the 2010 budget. However, due to concessions given over the course of 2010, the actual figure is more likely to be around 3.5%, revealed Constantino Mendez, the secretary of state for defence, whilst presenting the 2011 budget to the congressional defence committee. Much of the cuts will be borne out by a reform of labour laws, and a concomitant reduction in the salaries paid to civil servants, realising a saving of 5% of the total personnel bill. Additionally, the budget will attempt to maintain its current procurement commitments, with the possibility of delaying or spreading out payments over a longer time frame. However, Mendez did call for a reduction in investment spending over the medium term. The majority of the cuts will be in the Department of Defence, and not the individual service branches.
Key Topics Covered:
- Executive Summary
- SWOT Analysis
- Global Political Outlook
- Global Security Outlook
- Spain's Security Risk Ratings
- Armed Forces And Government Spending
- Industry Forecast Scenario
- Company profiles
- Methodology
Companies Mentioned:
- EADS CASA
- General Dynamics Santa Brbara Sistemas
- Indra
- ITP
- Navantia (formerly known as Izar)
For more information visit http://www.researchandmarkets.com/research/1ee0e4/spain_defence_and