STOCKHOLM (Reuters) -World military expenditure reached $2.72 trillion in 2024, an increase of 9.4% from 2023 and the steepest year-on-year rise since at least the end of the Cold War, according to a report released by a leading conflict think tank on Monday. The war in Ukraine and doubts over U.S. commitment to the NATO-alliance saw military spending in Europe (including Russia) rise by 17%, pushing European military spending beyond the level recorded at the end of the Cold War. Military spending by the U.S. rose by 5.7% per cent to reach $997 billion, which was 66% of total NATO spending and 37% of world military spending in 2024.
Author: The Star Online
Published at: 2025-04-27 22:12:00
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