Last Updated: April 24, 2023, 05:35 IST
Military spending by NATO members totalled $1232 billion in 2022, which was 0.9 per cent larger than in 2021. (Reuters Photo)
World army expenditure rose by 3.7% in actual phrases in 2022 to $2.24 trillion, the Stockholm International Peace Research Institute mentioned in an announcement
Global army spending rose to a document final yr as Russia’s warfare in Ukraine drove the most important annual enhance in expenditure in Europe because the finish of the Cold War three many years in the past, a number one battle and armaments assume tank mentioned on Monday.
World army expenditure rose by 3.7% in actual phrases in 2022 to $2.24 trillion, the Stockholm International Peace Research Institute (SIPRI) mentioned in an announcement.
Russia’s invasion of Ukraine, which started in February final yr following years of rising tensions, has prompted European international locations to hurry to bolster their defences.
Moscow says its “special military operation” was essential to safeguard it in opposition to what it sees as a hostile and aggressive West. Ukraine and its Western allies say Russia is waging an unprovoked warfare aimed toward grabbing territory.
European army spending shot up 13% final yr, primarily attributable to will increase by Russia and Ukraine, however with many international locations throughout the continent additionally ramping up army budgets and planning for extra amid the surging tensions.
“This included multi-year plans to boost spending from several governments,” SIPRI Senior Researcher Diego Lopes da Silva mentioned. “As a result, we can reasonably expect military expenditure in Central and Western Europe to keep rising in the years ahead.”
Ukraine’s army spending rose 640% in 2022, the most important annual enhance recorded in SIPRI information going again to 1949, with that whole not together with the huge quantities of monetary army assist supplied by the West.
SIPRI estimated that army assist to Ukraine from the United States accounted for two.3% of whole U.S. army spending in 2022. Though the United States was the world’s prime spender by far its general expenditure rose solely marginally in actual phrases.
Meanwhile, Russia’s army spending grew by an estimated 9.2%, although SIPRI acknowledged figures have been “highly uncertain given the increasing opaqueness of financial authorities” since its warfare in Ukraine started.
“The difference between Russia’s budgetary plans and its actual military spending in 2022 suggests the invasion of Ukraine has cost Russia far more than it anticipated,” mentioned Lucie Beraud-Sudreau, Director of SIPRI’s Military Expenditure and Arms Production Programme.
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