2010 bonanza for Israeli arms sales

Press TV – June 16, 2011

Israel says it has reaped more benefit from its arms sales in 2010, earning more than USD seven billion, despite the worldwide financial crisis.

“Despite the global economic crisis, Israel’s military industries have experienced a period of stability and growth,” said Director General of Israel’s Ministry of Military Affairs, Major General Udi Shani, AFP reported.

However, the report does not provide details about countries that purchase weapons from the Israeli regime or what type of arms are involved in the deals.

Israeli officials attribute the 2010 boost of USD 300 million in arms sales compared to its previous year figures to Tel Aviv’s newly-deployed missile system known as the Iron Dome.

The apparatus has been jointly developed by Israel and the United States and awaits the injection of another billion dollars by Tel Aviv.

In its 2011 budget, Washington also allocates USD 415 million to the procurement, research and development of the missile projects jointly conducted with the Israeli regime, including USD 205 million for the Iron Dome system.

The amount of the US aid for the missile system is on top of the annual USD 3 billion allocated by Washington to Tel Aviv in mostly military grants.