Global Military Spending Reaches Record Levels

Military spending worldwide (AFP/Valentin RAKOVSKY) (Valentin RAKOVSKY)  

AFP: Military spending reaches record levels: report 

Global military spending rose again in 2021, setting new records as Russia continued to beef up its military prior to its invasion of Ukraine, researchers said Monday, predicting the trend would continue in Europe in particular. 

Despite the economic fallout of the global Covid pandemic, countries around the world increased their arsenals, with global military spending rising by 0.7 percent last year, according to a report by the Stockholm International Peace Research Institute (Sipri).

"In 2021 military spending rose for the seventh consecutive time to reach $2.1 trillion. That is the highest figure we have ever had," Diego Lopes da Silva, senior researcher at Sipri, told AFP. 

Russia's spending grew by 2.9 percent -- the third year of consecutive growth -- to $65.9 billion.  

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Update #1: Global Military Spending Tops $2 Trillion for First Time as Europe Boosts Defenses (Bloomberg)  

Update #2: World military expenditure surpasses USD 2tn; US, China, India top spenders (The Print)  

WNU Editor: Here is an easy prediction. 2022 is going to be another record year for global military spending.