Reports states international army spending in biggest hike since Cold War

(MENAFN)
Global military spending saw its largest annual increase in over three decades in 2024, according to a report released Monday by the Stockholm International Peace Research Institute (SIPRI). The surge was particularly notable in Europe and the Middle East, pushing total worldwide defense expenditures past $2.7 trillion.

SIPRI noted that over 100 nations raised their military budgets last year, as governments increasingly prioritized defense over other public spending. Ukraine topped the list in terms of military burden, spending nearly $65 billion — roughly 34% of its GDP.

Europe, including Russia, contributed significantly to the global rise, with total regional military spending reaching nearly $700 billion. Central and Western European countries reported record increases, including Germany, which boosted its defense budget by 28% to over $88 billion. This makes Germany the top military spender in Western Europe for the first time since reunification, due in large part to a €100 billion special defense fund introduced in 2022.

Germany ranked fourth globally in defense spending, trailing only the United States, China, and Russia, and just ahead of India. These five nations together accounted for 60% of global military expenditures.

NATO members collectively spent $1.5 trillion in 2024, accounting for 55% of global military spending. The U.S. alone contributed $997 billion — two-thirds of NATO's total and 37% of the worldwide defense budget. European NATO allies spent a combined $454 billion.

SIPRI researcher Jade Guiberteau Ricard attributed the sharp rise in European defense spending to fears of a potential Russian threat and uncertainty about continued U.S. support under NATO. U.S. President Donald Trump has repeatedly urged European nations to contribute more to the alliance, raising concerns about possible American withdrawal.

In response to perceived security threats, the EU is reportedly planning to borrow hundreds of billions of euros to further boost defense efforts. However, Russia has dismissed accusations of aggressive intent, with President Vladimir Putin calling such fears "complete nonsense."

The report also highlighted increased defense spending in the Middle East, which hit approximately $243 billion in 2024 — a rise driven largely by the ongoing conflict in Gaza and regional instability.

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