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Follow on Google News | New Market Report Now Available: Philippines Defence & Security Report Q4 2010Recently published research from Business Monitor International, "Philippines Defence & Security Report Q4 2010", is now available at Fast Market Research
The expenditure items will be: PHP82.3bn for 'personal services,' including military operations, PHP17.1bn for maintenance operations and PHP5.1bn for purchasing. PHP10.1 billion will be allocated to the Air Force, PHP11.3 billion to the Navy, and PHP34.7 billion for the Armed Forces headquarters. It is not clear whether some of this increased spending is actually a re-working of the existing budget allocation. President Aquino has appointed Marvic Leonen - the Dean of the University of the Philippines' College of Law - as chief of the government's peace panel. Leonen's appointment will strongly aid the Aquino administration in sealing a final peace agreement with the Moro Islamic Liberation Front (MILF), due to his expertise in Philippine indigenous law as well as natural resources law, two key knowledge areas that will be crucial for the talks in the coming months. Communist rebels of the New People's Army (NPA) in August launched a spate of ambushes against the Philippine military and police, resulting in scores of deaths in places such as Northern Samar, Surigao del Sur and Negros Occidental. The most deadly attack was the strike on the police in Northern Samar, which led to the loss of the lives of eight policemen and a district official. Despite the strikes by the militants, the government will continue its efforts in holding peace talks with the NPA. Although the Philippines is one of Asia's longest-established democracies, it is arguably one of the less mature ones. More than most other Asian states, the Philippines is prone to public unrest and either attempted military coups or rumours of such disturbances. There have been two 'People Power' popular uprisings against corrupt presidents (in 1986 and 2001), and several repeated attempts during the 2000s. As a result of the election of President Benigno Aquino in May, we expect an improvement in the country's business environment, given that the new leader has made corruption eradication his key electoral promise earlier this year. While we anticipate that Aquino's campaign against graft will be challenging, we still anticipate a reduction in corruption in response to the new government's efforts. Economically, we believe the Philippines will be a key economic outperformer in South East Asia in 2010 and 2011, where we expect real GDP expansion to come in at a firm 4.9% and 4.0% respectively, surpassing countries such as Malaysia and Thailand, although still below favourites Indonesia and Vietnam. Despite our generally negative outlook on the regional economy over the next two years, we believe strong domestic demand in the Philippines will help it sustain much of its growth momentum. Our positive outlook for the Philippines faces two key risks over the next few years, which may force us to revise our forecasts downwards should these concerns be realised. Firstly, the Philippine economy is highly dependent on remittance growth to sustain its expansion, and a weakening in inflows could most likely lead to lower headline growth. Secondly, the Philippine government is currently facing an increasing debt load with foreign debt making up around 45% of total debt portfolio. Should global interest rates rise unexpectedly, Aquino's administration may be forced to restrict spending or even raise more taxes to manage its deficits, which could lead to lower growth. For more information or to purchase this report, go to: - http://www.fastmr.com/ Partial Table of Contents: Executive Summary SWOT Analysis - Philippines Security SWOT - Philippines Defence Industry SWOT - Philippines Political SWOT - Philippines Economic SWOT - Philippines Business Environment SWOT Global Political Outlook - Global Hotspots - Table: Election Timetable, H210-2011 - United States: Obama To Be Tested By Mid-Term Elections - Latin America: Beyond Lula - Western Europe: All About Austerity - Central Europe: New Governments To Be Tested - South-East Europe: Turkey's Ongoing Evolution - Russia And The Former Soviet Union: Focus On Security - Middle East: Ongoing Challenges - Sub-Saharan Africa: The Election Conundrum - Asia: The Usual Risks Prevail - Wild Cards To Watch South East Asia Security Overview - The Strategic Outlook for the 2010s - Main Islamist Militant Groups In South East Asia - Other Regional Threats Political Overview - Domestic Politics I - Domestic Politics II - Long-Term Political Outlook Security Risk Analysis - BMI's Security Ratings - Table: Asia Pacific Regional Security Ratings - Table: Asia Pacific State Vulnerability To Terrorism Index - Philippines Security Risk Ratings - City Terrorism Rating - Table: BMI's Asia City Terrorism Index Security Overview - Internal Security Situation - Moro Islamic Liberation Front (MILF) - Abu Sayyaf - New People's Army - Table: Philippine Insurgent Groups - External Security Situation - Piracy - Table: Instances of Piracy In South East Asia, 1996-2006 - The South China Sea - Bilateral Military Relations - Armed Forces - Table: Regional Armed Forces, 2010 Forecast (including conscripted, '000 personnel) - Government Expenditure - International Deployments - Weapons Of Mass Destruction Market Overview - Industry Trends and Developments - Arms Trade Overview - Procurement Trends and Developments Industry Forecast Scenario - Armed Forces - Table: Philippines' Armed Forces, 2006-2014 ('000 personnel) - Government Expenditure - Table: Philippines' Government Defence Expenditure, 2006-2014 - Macroeconomic Forecast - Philippines - Economic Activity Company Profiles - Full Table of Contents is available at: -- http://www.fastmr.com/ About Business Monitor International Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at http://www.fastmr.com/ About Fast Market Research Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156. # # # Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. End
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