Military costs in the world reached a record of $ 2.7 trillion

In 2024, the world’s military costs reached $ 2.718, which was 9.4% more compared to 2023 and became the fastest annual growth from the end of the Cold War. It was reported by the Stockholm International Institute for Research of Peace Problem (SIPRI) on Monday, April 28th.

“More than 100 countries in the world have increased their military costs in 2024. Because governments are increasingly prioritizing military needs, often due to other budget articles, the economic and social consequences of these decisions can have a huge social impact for years,” the study said.

The war in Ukraine, as well as doubts about compliance with the United States on allied obligations within the NATO framework, has become major factors that influence the growth of European costs.

In general, European defense costs (including Russia) rose 17% and reached $ 693 billion, exceeding the level of Cold War costs. The only European country that has not increased military costs is Malta.

In 2024, Russia’s military spending reached $ 149 billion, which was 38% more than 2023 and twice as much as 2015. It was 7.1% of Russia’s GDP and 19% of all government spending.

Ukraine’s total military cost in 2024 increased by 2.9%, up to 64.7 billion dollars, 43% of Russian costs. At the same time, military spending has reached 34% of the country’s GDP, which is the highest rate in the world.

Increased costs were also observed in the United States, where military spending increased by 5.7% and up to $ 997 billion, which was 37% of the world’s military spending in 2024.

China, the second country in the world in terms of military spending, has increased defense costs by 7% to $ 314 billion, showing growth for 30 consecutive years.

There have also been unmarried increases in military costs in Central and West Europe. Germany costs increased by 28% and reached 88.5 billion dollars, which became the largest military consumer in the region. Poland has increased costs by 31%, carrying them 38 billion dollars, which is 4.2% of the country’s GDP.

Remember that the Ukraine military spending in 2024 became higher than that was given to the state budget.

In 2023, global military costs reached $ 2.443, showing an increase of 6.8% compared to last year, which is the highest in 2009.