(MENAFN) According to the Stockholm International Peace Research Institute (SIPRI), global military spending surged by seven percent to reach USD2.43 trillion in 2023, marking the most substantial annual increase since 2009. This notable uptick in military expenditures serves as a troubling indicator of the deteriorating peace and security landscape worldwide. In a statement, SIPRI highlighted that the leading contributors to this heightened military spending include the United States, China, and Russia, underscoring the significant investments made by major powers in bolstering their defense capabilities.
Nan Tian, a senior researcher at SIPRI's Military Expenditure and Arms Production Program, attributed the increase in military spending directly to the worsening state of global peace and security. Tian cautioned against the potential consequences of this trend, warning that countries may become ensnared in a cycle of action and reaction amidst escalating geopolitical tensions and security uncertainties.
The institute's analysis further revealed that Russia recorded a substantial 24 percent increase in defense spending, reaching an estimated USD109 billion. Additionally, Ukraine witnessed a remarkable 52 percent surge in defense expenditures, totaling USD65 billion. Notably, Ukraine also received significant military aid, amounting to at least USD35 billion, from other countries during the reporting period.
The SIPRI's findings underscore the escalating militarization trend observed globally, with countries prioritizing military power amid growing geopolitical challenges and security threats. The institute's assessment serves as a stark reminder of the urgent need for concerted efforts to address underlying sources of tension and promote peaceful conflict resolution mechanisms to mitigate the risk of further escalation in military spending and its potential repercussions on global stability.
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