Home Italian News The year 2020 global military spending will increase despite the pandemic -...

The year 2020 global military spending will increase despite the pandemic – Europe


Global military spending continues to increase in 2020, despite the Covid-19 pandemic, reaching nearly $ 2 trillion, amid a dramatic decline in world GDP. This was revealed by a report from the Stockholm International Peace Research Institute (Sipri).
Last year, military spending on the planet amounted to about 1,650 billion euros, up 2.6% year-on-year while global gross domestic product fell 4.4%.
And in 2019, the highest level since the end of the Cold War has been reached.
Researchers note that the increase in military spending in the wake of economic recession means that – the share of military spending in GDP has also increased: an average of 0.2 points a year. worldwide, at this 2-point level – according to observed reports – the largest annual increase since the 2009 financial crisis.
Last year, 12 NATO countries spent at least 2% of GDP on their armed forces – a goal set by the organization, up from 9 in 2019. However, while military spending With the increase globally, some countries such as Chile or South Korea prioritize diverting a portion of the budget for this expenditure item to cope with the health crisis. Other countries, such as Hungary, have decided to increase military spending “as part of a pandemic stimulus plan”.
The country with the most spending in this area – according to Diego Lopes da Silva, co-author of the report – is still the United States, with a rise of 4.4% to $ 778 billion, equal to 39% of global spending. . Three years of increases were encouraged by President Trump, although so far, Da Silva – the new Biden administration noted that “there is no sign of a military spending cut.” Behind the United States is China, with 13% of global military spending.

ABOUT US RESERVED © Copyright ANSA


Please enter your comment!
Please enter your name here

Most Popular

Recent Comments