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Defence
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COLD WAR LEVELS

COLD WAR LEVELS: Global military spending rose to a record last year, with the invasion of Ukraine having an immediate impact on military spending decisions. Overall, defence expenditure increased by 3.7% in real terms to reach $2.24-trillion, the Stockholm International Peace Research Institute reported. Military expenditure in Europe saw its steepest year-on-year increase in at least 30 years, while the three largest spenders in 2022 were the US, China and Russia, which accounted for 56% of the world total. Photograph: Bloomberg

Photo by Bloomberg

5th May 2023

By: Creamer Media Reporter

     

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COLD WAR LEVELS: Global military spending rose to a record last year, with the invasion of Ukraine having an immediate impact on military spending decisions. Overall, defence expenditure increased by 3.7% in real terms to reach $2.24-trillion, the Stockholm International Peace Research Institute reported. Military expenditure in Europe saw its steepest year-on-year increase in at least 30 years, while the three largest spenders in 2022 were the US, China and Russia, which accounted for 56% of the world total. Photograph: Bloomberg

Edited by Creamer Media Reporter

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