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Yahoo
30-04-2025
- Business
- Yahoo
Data show biggest jump in global military spending since Cold War
Global military expenditure rose by 9.4% in 2024 to $2.7 trillion, the steepest yearly rise since the end of the Cold War, according to data compiled by the global security think tank Stockholm International Peace Research Institute. Spending in Europe, including Russia, was a big factor behind the global surge in spending, SIPRI said. European nations' collective spending increased by 17% to $693 billion amid the ongoing war in Ukraine, the organization's data show. Russia's government increased its military spending by 38% to an estimated $149 billion last year, while Ukraine's grew by 2.9% to $64.7 billion. The Ukrainian spending amounted to 34% of the country's GDP, the largest military expenditure by percentage of GDP of any nation last year, according to SIPRI. "Russia once again significantly increased its military spending, widening the spending gap with Ukraine," said Diego Lopes da Silva, a senior researcher at SIPRI. "Ukraine currently allocates all of its tax revenues to its military. In such a tight fiscal space, it will be challenging for Ukraine to keep increasing its military spending." All NATO member nations increased their military spending, too, with 18 countries spending at least 2% of their GDP during 2024, which SIPRI said was the highest number of NATO members to hit that threshold since the alliance adopted it as a spending guideline in 2014. "The rapid spending increases among European NATO members were driven mainly by the ongoing Russian threat and concerns about possible U.S. disengagement within the alliance," said Jade Guiberteau Ricard, another SIPRI researcher. "It is worth saying that boosting spending alone will not necessarily translate into significantly greater military capability or independence from the USA. Those are far more complex tasks." In the Middle East, Israel and Lebanon significantly increased their military spending. Israel boosted its defense investment by 65% to $46.5 billion, while Lebanon increased its own by 58%, to $635 million. "Despite widespread expectations that many Middle Eastern countries would increase their military spending in 2024, major rises were limited to Israel and Lebanon," said SIPRI researcher Zubaida Karim. "Elsewhere [in the region], countries either did not significantly increase spending in response to the war in Gaza or were prevented from doing so by economic constraints." SIPRI said Iran's military expenditure fell in real terms by 10% to $7.9 billion, despite its involvement in regional conflicts. U.S. military spending grew by 5.7% to $997 billion, amounting to 66% of NATO spending in 2024 and 37% of global military spending. China was the world's second largest military spender last year behind the U.S., accounting for half of all military spending in Asia and Oceania, SIPRI said. China increased its spending by 7% to $314 billion. "Major military spenders in the Asia-Pacific region are investing increasing resources into advanced military capabilities," said Nan Tian, the director of the SIPRI Military Expenditure and Arms Production Program. 'With several unresolved disputes and mounting tensions, these investments risk sending the region into a dangerous arms-race spiral." Kristi Noem says she's "very confident" undocumented migrants stole her purse Ashlie Crosson named 2025 National Teacher of the Year Supreme Court appears poised to side with student with disability in school discrimination case
CBS News
30-04-2025
- Business
- CBS News
Global military spending jumped more in 2024 than any year since Cold War, think tank says
Global military expenditure rose by 9.4% in 2024 to $2.7 trillion, the steepest yearly rise since the end of the Cold War, according to data compiled by the global security think tank Stockholm International Peace Research Institute. Spending in Europe, including Russia, was a big factor behind the global surge in spending, SIPRI said. European nations' collective spending increased by 17% to $693 billion amid the ongoing war in Ukraine, the organization's data show. Russia's government increased its military spending by 38% to an estimated $149 billion last year, while Ukraine's grew by 2.9% to $64.7 billion. The Ukrainian spending amounted to 34% of the country's GDP, the largest military expenditure by percentage of GDP of any nation last year, according to SIPRI. "Russia once again significantly increased its military spending, widening the spending gap with Ukraine," said Diego Lopes da Silva, a senior researcher at SIPRI. "Ukraine currently allocates all of its tax revenues to its military. In such a tight fiscal space, it will be challenging for Ukraine to keep increasing its military spending." All NATO member nations increased their military spending, too, with 18 countries spending at least 2% of their GDP during 2024, which SIPRI said was the highest number of NATO members to hit that threshold since the alliance adopted it as a spending guideline in 2014. NATO military forces are seen during the Steadfast Dart 2025 exercises at the Smardan Training Area, in Smardan, Romania, Feb. 19, 2025. DANIEL MIHAILESCU/AFP/Getty "The rapid spending increases among European NATO members were driven mainly by the ongoing Russian threat and concerns about possible U.S. disengagement within the alliance," said Jade Guiberteau Ricard, another SIPRI researcher. "It is worth saying that boosting spending alone will not necessarily translate into significantly greater military capability or independence from the USA. Those are far more complex tasks." In the Middle East, Israel and Lebanon significantly increased their military spending. Israel boosted its defense investment by 65% to $46.5 billion, while Lebanon increased its own by 58%, to $635 million. "Despite widespread expectations that many Middle Eastern countries would increase their military spending in 2024, major rises were limited to Israel and Lebanon," said SIPRI researcher Zubaida Karim. "Elsewhere [in the region], countries either did not significantly increase spending in response to the war in Gaza or were prevented from doing so by economic constraints." SIPRI said Iran's military expenditure fell in real terms by 10% to $7.9 billion, despite its involvement in regional conflicts. U.S. military spending grew by 5.7% to $997 billion, amounting to 66% of NATO spending in 2024 and 37% of global military spending. China was the world's second largest military spender last year behind the U.S., accounting for half of all military spending in Asia and Oceania, SIPRI said. China increased its spending by 7% to $314 billion. "Major military spenders in the Asia-Pacific region are investing increasing resources into advanced military capabilities," said Nan Tian, the director of the SIPRI Military Expenditure and Arms Production Program. 'With several unresolved disputes and mounting tensions, these investments risk sending the region into a dangerous arms-race spiral."
Yahoo
29-04-2025
- Business
- Yahoo
Global arms spending made biggest post-Cold War jump in 2024: Report
THE HAGUE, Netherlands — Global military spending surged to an unprecedented $2.72 trillion in 2024, jumping 9.4% from the previous year and marking the steepest annual increase since the end of the Cold War. The Stockholm International Peace Research Institute reported the stark increase in its highly anticipated annual report, which was released on Monday. It marks the tenth consecutive year of growth in worldwide military spending and was driven by heightened geopolitical tensions across all regions, with particularly rapid growth in Europe and the Middle East amid ongoing conflicts in Ukraine and Gaza. Overall, 2.5% of the combined global economic power was spent on the military last year, SIPRI researchers determined. 'Over 100 countries around the world raised their military spending in 2024,' said Xiao Liang, researcher with SIPRI's Military Expenditure and Arms Production Programme. 'As governments increasingly prioritize military security, often at the expense of other budget areas, the economic and social trade-offs could have significant effects on societies for years to come,' he added. The United States maintained its position as the world's dominant military spender at $997 billion, accounting for 37% of global expenditure. China followed at an estimated $314 billion, with Russia ($149 billion), Germany ($88.5 billion), and India ($86.1 billion) rounding out the top five. Together, these nations accounted for 60% of worldwide military spending. NATO members collectively spent $1.51 trillion on their militaries, accounting for more than half (55%) of global expenditures. Eighteen of the alliance's 32 members met or exceeded the 2% of GDP spending target that NATO leaders committed to in 2014, up from 11 members in 2023. Russia's military expenditure surged by 38% compared to 2023, reaching an estimated $149 billion - double what it spent in 2015. This figure represented 7.1% of Russia's GDP and 19% of its total government expenditure. Israel's spending was 65% higher than in 2023, while Poland, already a top NATO spender, invested 31% more. Ukraine ranked as the eighth largest military spender globally with expenditures of $64.7 billion - a staggering 34% of its GDP, the highest military burden of any country in 2024. In the light of Russia's full-scale invasion of the country, which commenced in February 2022 and came after more limited incursions in 2014, Kyiv has found itself in dire need of extensive and rapid armament. Its 2024 defense spending was 1,251% higher than it had been a decade ago, SIPRI calculated. 'Ukraine currently allocates all of its tax revenues to its military,' said Diego Lopes da Silva, senior researcher with the SIPRI Military Expenditure and Arms Production Programme. 'In such a constrained fiscal environment, it will be difficult for Ukraine to continue to raise its military expenditures.' Ukraine's neighbors are also beefing up their war machines, with European military spending rising by 17% to $693 billion, pushing the continent's defense budgets beyond Cold War-era levels. Germany emerged as Western Europe's number one military spender for the first time since reunification, with expenditures rising 28% year over year to $88.5 billion. The Middle East, rocked by the first direct military exchange between Israel and Iran as well as Israel's ongoing war in Gaza, saw substantial increases. Israel's military spending jumped to $46.5 billion amid its war in Gaza and conflict with Hezbollah, a value representing 8.8% of the country's GDP. Meanwhile, China continued its 30-year streak of consecutive annual increases in military spending, as it continued its saber-rattling toward Taiwan. Beijing's spending now stands 59% higher than it did a decade ago. Japan's military expenditure also grew by a staggering 21% in the past year to a sum total of $55.3 billion, marking its biggest annual increase since 1952. 'With several unresolved disputes and mounting tensions, these investments risk sending the region into a dangerous arms-race spiral,' said Nan Tian, director of SIPRI's Military Expenditure and Arms Production Programme, of Asia. Last year, the world spent $334 on the military per capita, the highest level since the end of the Cold War. The SIPRI report warned that many countries' pledges to increase military spending further will lead to critical questions about fiscal sustainability and resource allocation away from social and development priorities.
India.com
29-04-2025
- Business
- India.com
India spent 9 times more money on defence than Pakistan did in 2024, becomes 5th largest..., Islamabad's defence budget stood at...
India spent 9 times more money on defence than Pakistan did in 2024, becomes 5th largest..., Islamabad's defence budget stood at... Amid escalating tensions with Pakistan following the Pahalgam terror attack, a new study has underlined the stark disparity between the two neighbours' military strength. India's defence spending in 2024 was nearly nine times more than Pakistan's, according to findings released on Monday (April 28, 2025) by the Stockholm International Peace Research Institute (SIPRI). India's military expenditure rose by 1.6 per cent over the previous year, reaching USD 86.1 billion — securing its place as the world's fifth-largest defence spender. In contrast, Pakistan's defence budget stood at USD 10.2 billion, showcasing the widening gap in military capabilities between the two rivals. The report revealed that the top five countries, the United States, China, Russia, Germany, and India — together contributed to 60 per cent of global military expenditure, which totalled USD 1,635 billion. China, in particular, saw a significant rise in its defence budget, increasing spending by 7 per cent to an estimated USD 314 billion. This marked the 30th consecutive year of growth in its military investments. According to the report, titled 'Trends in World Military Expenditure 2024', China alone accounted for half of the defence spending across Asia and Oceania, as it continued to modernise its armed forces, strengthen its cyber capabilities, and expand its nuclear arsenal. Military spending across Europe, including Russia, surged by 17% in 2024 to reach $693 billion, making it the primary driver behind the global rise in defence budgets, the Stockholm International Peace Research Institute (SIPRI) reported on Monday. With the war in Ukraine dragging into its third year, defence expenditures continued to climb across the continent, pushing European military spending past the levels last seen at the close of the Cold War, the report observed. Russia's military budget alone soared to an estimated USD 149 billion in 2024 — a staggering 38 per cent increase from the previous year and nearly double what it was in 2015. Defence spending now accounts for 7.1 per cent of Russia's GDP and roughly 19 per cent of the government's total budget, according to SIPRI. On the other side, Ukraine's military expenditure rose modestly by 2.9 per cent to USD 64.7 billion, amounting to 43 per cent of Russia's military outlay. At 34 per cent of its GDP, Ukraine bore the heaviest military burden of any country globally in 2024, the study noted. 'Russia once again significantly ramped up its military budget, further widening the gap with Ukraine,' said Diego Lopes da Silva, Senior Researcher at SIPRI's Military Expenditure and Arms Production Programme. He warned that Ukraine, already allocating all its tax revenues to defence, faces major challenges in sustaining further increases under such fiscal pressure. Meanwhile, several countries in Central and Western Europe recorded historic spikes in military spending as they moved forward with new investment commitments and large procurement drives. Germany boosted its defence budget by 28 per cent, reaching USD 88.5 billion — making it the largest spender in Central and Western Europe and the fourth highest globally. Poland's defence expenditure also saw a sharp rise, growing by 31 per cent to USD 38 billion, which represented 4.2 per cent of its GDP, SIPRI added.
Telegraph
28-04-2025
- Politics
- Telegraph
Battle Lines: Record global rearmament, plus India-Pakistan war fears
Wherever you look, we're living in a world of increasing conflict and tensions. That's certainly the conclusion of the highly respected Stockholm International Peace Research Institute (SIPRI), which found an unprecedented rise in global military spending, the steepest increase since the end of the cold war. SIPRI senior researcher Diego Lopes da Silva joins Venetia Rainey to look at who the biggest spenders are and what's driving the spike in spending. Plus, South Asia analyst Michael Kugelman looks at the growing tensions between nuclear foes India and Pakistan following a brutal attack on Indian tourists in Kashmir. Prime Minister Narendra Modi has vowed a military response, prompting fears of an all-out war. How likely is it and can anyone stop it from escalating?
