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Economy

“Global military spending hit all-time high in 2023 after 7% jump, report finds”

“Global military spending reached a record high of $2.4 trillion in 2023 amid a “global deterioration in peace and security,” the Stockholm International Peace Research Institute said Monday. The figure marked a 6.8% increase from 2022 and the sharpest year-on-year jump since 2009, the institute said in a report on military spending trends.

“The unprecedented rise in military spending is a direct response to the global deterioration in peace and security,” Nan Tian, senior researcher in SIPRI’s military expenditure and arms production programme, said in a statement…”

https://www.cnbc.com/2024/04/22/global-military-spending-hit-an-all-time-high-in-2023-report-says.html

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