Global powers boost military budgets by record percent
Global military spending surged by nearly 10% in 2024—the largest annual increase since the Cold War—driven by ongoing wars in Ukraine and the Middle East, according to a report by the Stockholm International Peace Research Institute (SIPRI). Total global spending reached over $2.7 trillion, with the U.S. remaining the top spender at $997 billion. Russia’s spending jumped 38% to $149 billion, while Ukraine’s rose modestly … Continue reading Global powers boost military budgets by record percent
