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Global Military Spending Soars to $2.44 Trillion in 2023: SIPRI Report

Global military spending will rise to $2.44 trillion in 2023, according to the report (.pdf) Stockholm International Peace Research Institute (SIPRI). The 6.8% increase in spending was the highest since 2009, when global defense spending rose 6% (.pdf).

“The increase in global military spending in 2023 is primarily due to the ongoing war in Ukraine and growing geopolitical tensions in Asia and Oceania, as well as the Middle East,” the report states. The SIPRI authors noted that military spending increased in all five geographic regions. departmentsand the main growth in consumption was recorded in Europe, Asia and Oceania and the Middle East.

Among the top five countries that topped defense spending were the same states as of 2022:

  • US spend $916 billion in 2023 (3.4% of GDP)
  • China, according to SIPRI, gave 296 billion (1.7% of GDP) to defense
  • Russia, according to the institute, spent 109 billion (5.9% of GDP);
  • India – 83.6 billion (2.4% of GDP);
  • Saudi Arabia – 75.8 billion (7.1% of GDP).

The five countries mentioned accounted for 61% of the world’s military spending. Meanwhile, half of the world’s defense spending comes from the United States and China – 37% and 12% of the global figure, respectively. The US spends three times as much as China.

Among the top 10 countries in particular was Ukraine, which took the eighth place, spending $ 64.8 billion on defense, which is 51% more than in 2022 and 1272% more than in 2014, when Russia’s involvement in the Crimea. For comparison: Russia’s expenses for 2023, according to SIPRI, increased by 24%, and from 2014 – 57%.

Russia spent 5.9% of GDP and 16% of government spending on military spending in 2023, the highest level recorded since the fall of the Soviet Union, SIPRI notes.

Russia’s military spending data in 2023 is highly uncertain due to the growing instability of the Russian financial authorities after a full-scale invasion of Ukraine in 2022,” the report said. The authors of the publication say that money in Russia, in addition to budget money, is allocated to the military sector from extra-budgetary sources, such as enterprises, individuals and organizations.

Ukraine’s defense spending amounted to 59% of Russia’s spending, but taking into account Western military aid of at least $35 billion, this is 91% of Russia’s spending, the report says to say

2024-04-22 06:15:00
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