Global military spending hits record $2.9 trillion
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READING:
Military spending hit a record in 2025. A peace institute said global defence spending was nearly $2.9 trillion last year. Spending has gone up for eleven years in a row. Europe's defence spending increased by 14 per cent. The Asia-Oceania region increased its spending by 8.1 per cent. The USA is the biggest spender.
There are several reasons for the record levels of spending. One reason is that NATO countries met their spending targets. Another reason is the Russia-Ukraine war. Russia spent around 7.5 per cent of its GDP. Ukraine spent 40 per cent. The peace institute said countries are spending more because of today's wars.
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