KABUL (SW): According to the Stockholm International Peace Research Institute (SIPRI), the world’s military spending has peaked in 2017 since the Cold War. The Global military budgets reached a trillion and 739 billion USD in 2017 which is 1.1 percent increase from the previous year in 2016.
The United States has spent $610 billion on weapons and military equipment which accounts for 35 percent of the world’s total spending, securing the top position on the list for the U.S.
China ranked second with $228 billion and Saudi Arabia with $69.4 billion took the third place.
However, Russia which ranked 3 in 2016, for the first time since 1998, has cut its military spending in 2017 by 20% and has ranked fourth according to the report by the SIPRI.
The report showed that the military budget of the Asian countries and Pacific countries grew more than the European and Atlantic countries in 2017.
According to Siemon Wezeman, Senior Researcher at SIPRI the tension between China and its neighbors has led to an increase in military spending in Asia.
Jan Eliasson, Chair of the Board of SIPRI said that this is a “worrying” process, making it harder for peace to be achieved in the world.
Since 1999, the military spending has been relatively constant in the world; however, in recent years this cost has risen again akin to the Cold War.
ENDS
