Brief by Shorts91 Newsdesk / 01:56pm on 22 Apr 2024,Monday International
Global military expenditure reached an unprecedented $2.4 trillion in 2023, with India ranking fourth globally, spending $83.6 billion. The Stockholm International Peace Research Institute (SIPRI) highlighted increased spending in Europe, the Middle East, and Asia, citing heightened security concerns. China and Russia also saw significant spikes in military expenditure. Notably, NATO members collectively accounted for 55% of global military spending, with the USA alone representing 68% of NATO's total expenditure. Rising tensions and conflicts, including Israel's offensive in Gaza and Russia's actions in Ukraine, contributed to the surge in military spending worldwide.
