The world will spend more on military spending and weapons in 2023 than at its highest level in 35 years, according to a report, partly due to the war in Ukraine and the threat of an expanded Russian invasion. independent analysis Published Monday.
The study by the Stockholm International Peace Research Institute concluded that global military spending reached $2.4 trillion last year, an increase of 6.8% from 2022. Analysts found that rising tensions in Asia and the Middle East also contributed to the growth. Countries alone spent US$916 billion (more than one-third of the total), making them the world’s largest military spenders and arms suppliers.
“The unprecedented increase in military spending is a direct response to the deterioration of global peace and security,” said Minamida, a senior fellow at the institute, which has been tracking military spending since at least 1988.
He described an “increasingly unstable geopolitical and security situation.”
Ukraine spent $64.8 billion on its military in 2023, its first full year of war with Russia. This accounted for 58% of the country’s total government spending last year and accounted for 37% of the country’s gross domestic product. Analysts found that by 2023, only seven countries will spend more on military and defense than Ukraine.
One of them is Russia, which Mr Tian estimated spent $109 billion last year – more than any other country except the United States and China. The forecast is based on Moscow’s announcement last September of $75 billion in military spending for 2023, Mr. Tian said, adding that Russia’s military spending could rise to $127 billion this year, depending on the ruble’s value.
Regardless, despite the secrecy and disinformation surrounding Moscow’s defense investments, the institute concluded that Russia spent about 16% of its total government spending (or 5.9% of GDP) on the military in 2023 — —This is the highest level since the collapse of Russia. 1991 Soviet Union.
Ukraine has so far fended off Russia with the help of U.S. and European military aid, having delivered at least $35 billion in weapons and other supplies through 2023. (Kiel Institute for World Economics, It also tracks military aid to Ukraine, more than $100 billion from Canada, Europe and the United States since February 2022, but this includes support that has been promised but not yet delivered. )
At a minimum, U.S. aid to Ukraine includes funding for NATO allies, U.S. bases in Europe and domestic arms manufacturers that are replenishing the West’s largely depleted stockpiles of weapons and ammunition in its defense against Russia.one of $60 billion aid package For example, the Ukraine bill passed by the House of Representatives last weekend, At least US$37 billion It is expected to go to U.S. arms producers.In summary, the Biden administration says it has given Ukraine Over $44 billion Security assistance available from February 2022.
The war also prompted European countries to increase military spending, which increased by about 16% across the continent last year to $588 billion, the institute reported. While some of the money has flowed to Ukraine, European leaders have increased spending on their own militaries, especially in Eastern Europe, where military spending increased by 31% last year.
Twenty of NATO’s 32 members are expected to spend at least 2% of their gross domestic product on defense this year; a decade ago, only three met that benchmark.
“The cost of insecurity, the cost of victory for Russia, is far greater than any cost savings we can make now,” Ursula von der Leyen, president of the EU executive, told arms industry executives in Brussels last week.
“The costs of facing multiple threats and conflicts without preparedness are far beyond what we can afford,” she said. “This is why now is the time for Europe to strengthen its defense and security.”
