Military expenses in the world have reached a record $ 2.72 trillion – SIPRI

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The world military expenses in 2024 reached $ 2.718, which is 9.4% more than 2023 and became the most rise in the annual growth at least at least the end of the Cold War.

Source: Studies of the Stockholm International Institute for Peace Problems Research (SIPRI)

Details: According to the study, in 2024, the global military expenses reached a historical maximum – $ 2.718 trillion, which is 9.4% more than the previous year. This indicator is the most fierce growth since the end of the Cold War.

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Literally: “More than 100 countries have raised their military expenditures in 2024. Since governments are increasingly priority to military needs, often at the expense of other budget items, the economic and social consequences of these decisions can have a significant impact on society for many years.”

Details: The war in Ukraine, as well as doubts about the US devotion to the Allied Liability within NATO have become the main factors that have influenced the rise in costs in Europe, researchers say.

In total, the cost of defense in Europe (including Russia) increased by 17% and reached $ 693 billion, which exceeds the cost of the Cold War. Malta was the only country in Europe that did not increase its military expenses.

Russia’s military expenses in 2024 reached $ 149 billion, which is 38% more than 2023 and twice as much as in 2015. This is 7.1% of Russia’s GDP and 19% of all government expenditures.

Regarding Ukraine, total military expenditures in 2024 increased by 2.9%, reaching $ 64.7 billion, which is 43% of Russian expenditures. At the same time, military spending was 34% of the country’s GDP, which is the highest in the world.

According to researchers, in conditions of limited financial resources, it will be difficult for Ukraine to continue to increase defense costs.

Expenditures are also observed in the United States, where military expenditures increased by 5.7% and reached $ 997 billion, which is 37% of world military expenditures in 2024.

China, the second country in the world in terms of military expenditures, has increased its defensive expenditures by 7% to about $ 314 billion, demonstrating growth over 30 years in a row.

There are also unprecedented increase in military expenditures in Central and Western Europe. Germany costs increased by 28% and reached $ 88.5 billion, making it the largest military expenditure in the region. Poland increased costs by 31%, bringing them to $ 38 billion, which is 4.2% of the country’s GDP.

Prehistory:

• In 2023, global military expenses reached $ 2.443, showing an increase of 6.8% compared to the previous year, which has been the highest since 2009.