Global military spending surges amid war, rising tensions and insecurity
Global military spending surges amid war, rising tensions and insecurity
www.sipri.org Global military spending surges amid war, rising tensions and insecurity
(Stockholm, 22 April 2024) Total global military expenditure reached $2443 billion in 2023, an increase of 6.8 per cent in real terms from 2022. This was the steepest year-on-year increase since 2009.
Some key takeaways:
- NATO represents 55% of the global military spending, while only representing ~20% of the global population.
- An increase in military budget comes with a decreases of budget in education, healthcare, etc which will inevitably lead to worsening of living conditions.
- Saudi Arabia and Israel continue being the largest military spenders in the Middle East.
- 37% of Ukraine total GDP goes to military spending.
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