Global military spending rose 3.7% in real terms last year to a new high of $2.24 trillion. The fastest growth in defense spending occurred in Europe – it amounted to 13% per year, a record since 1989, according to a report by the Stockholm International Peace Research Institute (SIPRI).
The European part of the spending is largely borne by Russia and Ukraine, but the conflict between them has also affected the military spending of other countries in connection with assistance to Kiev and because of fears about possible actions by Moscow.
The total defense spending of the countries of Central and Western Europe amounted to $ 345 billion. The most decisive increase in military spending was made by the countries of Northern and Eastern Europe: Finland (+36%), Lithuania (+27%), Sweden (+12%) and Poland (+11%) .
At the same time, Ukrainian military spending in 2022 increased by 640% and reached $44 billion. According to analysts, this is a record increase in defense spending by any country. Last year, Ukraine spent 34% of GDP on maintaining the armed forces, compared to 3.2% in 2021.
Source: Rosbalt
Mario Twitchell is an accomplished author and journalist, known for his insightful and thought-provoking writing on a wide range of topics including general and opinion. He currently works as a writer at 247 news agency, where he has established himself as a respected voice in the industry.
