Boston, MA -- (ReleaseWire) -- 03/28/2014 -- BMI expects Israel's defence budget to reach US$17.6bn in 2014. On average, we expect Israel to spend US $19.8bn on defence in the years 2014-2018, a significant increase on the yearly average of US$15bn which Israel was spending between 2010 and 2013. In terms of its Gross Domestic Product (GDP) we expect Israel to spend 6.2 percent of its GDP on defence in 2014. On average, we expect Israel to spend 6.1 percent of its GDP on defence between 2014 and 2018.
BMI has given Israel a security risk rating of 66 for Q214. The country does suffer a significant threat of becoming embroiled in a major interstate conflict. Similarly, it is judged to be vulnerable to terrorist attack but at comparatively less risk from criminal activity.
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As of early 2014, plans by the United States Secretary of State John Kerry to broker a two-state peace deal between Israel and the Palestine Authority have received an angry response from some quarters in Israel, particularly from Defence Minister Moshe Ya'alon. The US and Israel also seemingly disagree on the future of the strategically-important valley west of the River Jordan. The United States has promised to provide Israel with security assurances and technology if Israel consents to give up this 80 kilometre by seven kilometre stretch of territory. At the time of writing (early February 2014) Israel has stated that it is unwilling to give up this territory.
Furthermore, the Israeli government is maintaining a hawkish stance vis-a-vis the agreement brokered between Iran and the international community which could see the former country allowing some inspections of its clandestine nuclear weapons facilities in exchange for the lifting of some sanctions. The Israeli Prime Minister Benjamin Netanyahu called the 23rd November 2013 agreement a 'historic mistake' and has stressed that Israel is not party to the agreement brokered in Geneva and reserves the right to defend itself as it sees fit. Tensions are also continuing between Israel and Lebanon. In late 2013, Jerusalem warned Beirut that it would take pre-emptive action if the Lebanese government does not make serious efforts to curtail the frequency of rocket fire against targets in Israel.
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