Global military spending hits record high

Global military spending hit a new high the year Russia invaded Ukraine. They rose by an inflation-adjusted 3.7 percent to $2.24 trillion in 2022, according to a report released Monday by Stockholm-based peace research institute Sipri.

Europe saw the highest increase in at least 30 years due to Russia’s war of aggression against Ukraine and concerns about an increased Russian threat elsewhere.

On a global scale, the world’s countries are putting more money into the military for the eighth year in a row than in the previous year. Given the current security situation, peace researchers expect this trend to continue in the coming years. The US remains the clear leader in spending, followed by China and Russia, which jumped from fifth to third due to the war. Ukraine posted a 640 percent increase to 11th place from 36th place last year. Germany remains seventh after an increase of 2.3 percent.

The annual SIPRI report is considered the world’s most comprehensive collection of data on countries’ military spending. The peace researchers also include expenditure on personnel, military aid and military research and development. (sda/dpa)