By Admin 
Sipri Report: Stockholm International Peace Research Institute (SIPRI) has released its latest report on Monday. According to the report, in the year 2024, the world’s total military expenditure has reached $ 2.72 trillion, which is 9.4 percent more than 2023. SIPRI data shows that due to increasing stress around the world, military expenses have increased everywhere. In particular, countries of Europe and Middle East have increased their defense spending significantly. & Nbsp;
The report states that in 2024 more than 100 countries have increased their military budget huge. The report also states that since the governments are now paying more attention to the army and the budget of the rest of the necessary areas is decreasing, it will affect the economy and society."
This big disclosure made in the report
According to news agency Reuters, SIPRI reports states that military expenses in Europe have increased significantly after the Ukraine War. This is the first time after the Cold War when Europe has made such a huge increase in its defense spending. & nbsp; According to the report, Russia’s military expenditure in 2024 has reached around 149 billion dollars, which is 38% higher than in 2023 and has almost doubled compared to 2015. This is 7.1% of Russia’s total economy (GDP) and 19% of the total expenditure of the government.
increased expenses on arms
Ukraine’s total military expenditure has increased by 2.9% to $ 64.7 billion, which is about 43% of Russia’s expenditure. In 2024, Ukraine has spent the most money on buying weapons. SIPRI says that Ukraine is spending more than 34% of its total earnings only in buying weapons.
America has also increased its military expenses by 5.7%. The US defense spending has increased to $ 997 billion in 2024, 66% of NATO’s total expenditure and 37% of the whole world’s military expenses. According to the latest data at the Stockholm International Peace Research Institute (SIPRI), the highest number of military spending countries are America, China, Russia, Germany and India. These five countries together hold 60% of the total military expenditure of the world and they have spent 1635 billion dollars on arms.
China also increased its expenses
China is the second largest military spending country in the world. China has increased its military expenses by 7% as compared to 2023. In 2024, China’s defense spending has been around 314 billion dollars, which has been growing for thirty consecutive years. Japan has also increased its military expenditure by 21% in 2024, which has increased to $ 55.3 billion. This is Japan’s biggest annual increase since 1952.
India, which is the highest military spending country at number five in the world, has increased its defense spending from 1.6% to $ 86.1 billion in 2024. Taiwan has also increased its military expenses by 1.8% in 2024, which has now increased to $ 16.5 billion. At the same time, Pakistan is at number 29 in this list. Pakistan has spent about $ 10.2 billion on arms in 2024.