Russia Spent $109 Bn On Military Amid Ukraine War, Israel 2nd Largest Defence Spender in Middle East

Countries spent a record $2.4 trillion on military forces in 2023, the highest amount ever recorded by SIPRI. SIPRI has been monitoring military expenditures since 1949 and found that it rose to 2.3% of GDP in 2023 from 2.2 in 2022. The report said every man, woman and child was taxed an average of $306 for military spending in 2023, the highest rate since the Cold War. The report also found that the increased spending exactly matched the global rate of inflation of 6.8%. The report noted spending was not evenly spread out because “world military expenditure is highly concentrated among a very small group of states.” Watch the video to find out more.