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Europe increases military spending, highest level since end of Cold War (RANKING)

2023-04-25 18:39:03Kosova&Bota SHKRUAR NGA REDAKSIA VOX
Europe increases military spending, highest level since end of Cold War
Europe increases military spending, the highest level since the end of the Cold War

Military spending in Europe hit a peak in 2022, at levels not seen since the end of the Cold War. In its latest report, the Stockholm Peace Institute says the massive increase was fueled by Russia's invasion of Ukraine.

Global military spending hit a new high in the year of Russia's invasion of Ukraine, rising 3.7% to $2.24 trillion in 2022, according to a report published today by the SIPRI peace research institute, with center in Stockholm.

Europe saw the highest growth in at least 30 years, at 13% adjusted for inflation, largely due to increased spending by Russia and Ukraine.

"Military aid to Kiev and concerns about a stronger threat from Russia also influenced the spending decisions of many other countries," according to SIPRI.

Globally, the countries of the world continued to spend more money on the military than last year, and this for the eighth year in a row.

"The steady increase in global military spending in recent years is a sign that we are living in an increasingly insecure world," explained SIPRI researcher Nan Tian.

Europe increases military spending, highest level since end of Cold War
The 15 countries with the most military spending in the world in 2022

The USA remains the clear leader in spending, followed by China and Russia, accounting for 65 percent of the global spending quota, equal to 2.036 billion euros.

Ukraine recorded a 640% increase and now stands at 11th place, after ranking 36th last year.

In Europe, the major powers increased spending by several percentage points, with Britain spending €62.5 billion. Germany and France increased them to about 50 billion, while Italy reduced them by 4.5 percent, bringing them to 30 and a half billion euros.

The SIPRI annual report is considered the world's most comprehensive collection of data on countries' military spending.


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