Global military spending hit all-time high in 2023 after 7% jump, report finds
- Global military spending hit a record $2.4 trillion in 2023 due to increased concerns over peace and security, as stated by the Stockholm International Peace Research Institute.
- This figure rose by 6.8% from 2022, showing the most significant annual increase since 2009, according to the institute's report on military spending trends.
- Ukraine and Russia had the highest spikes in military spending in 2023, by 51% and 24% respectively, with Russia's expenditure hitting $109 billion, making it the third-largest globally.
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Leaning Left21Leaning Right25Center18Last Updated12 days agoBias Distribution39% Right