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New world record breaks on military spending; Stockholm-based think tank

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According to a recent report by a Stockholm-based think tank, the ongoing conflict in Ukraine has led to record-high global military spending. The report notes that the world’s nations collectively spent $2.02 trillion on their militaries in 2022, a 5.9% increase from the previous year.

The report attributes this rise to heightened tensions and military buildups in several regions, including Europe and Asia.

The report also suggests that the ongoing conflict in Ukraine has played a significant role in driving up global military spending. The conflict, which began in 2014 and has resulted in over 13,000 deaths, has led to increased military spending by both Ukraine and Russia, as well as by NATO and other countries in the region.

The report highlights that the United States remains the world’s largest military spender, accounting for 40% of global military expenditures. China is the second-largest spender, with its military budget increasing by 8.2% in 2022, and is expected to continue growing in the coming years.

Overall, the report paints a picture of a world where military spending is on the rise, driven by a combination of geopolitical tensions and ongoing conflicts. The report also suggests that this trend is unlikely to reverse in the near future, and that military spending will likely continue to increase in the years to come.

The conflict in Ukraine has sparked an all-time high in global military spending, according to a report by a Stockholm-based think tank. The report reveals that global military spending reached $2.02 trillion in 2022, up by 5.9% compared to the previous year. The report cites increased tensions and military buildups in several regions, including Europe and Asia, as contributing factors.

The report suggests that the ongoing conflict in Ukraine has played a significant role in driving up military spending globally. The conflict, which began in 2014 and has claimed more than 13,000 lives, has prompted increased military spending by Ukraine and Russia, as well as by NATO and other countries in the region.

The report also indicates that the United States remains the world’s largest military spender, accounting for 40% of global military expenditures. China is the second-largest spender, with its military budget increasing by 8.2% in 2022 and expected to continue growing in the future.

The report underscores the trend of growing military spending worldwide, fueled by geopolitical tensions and ongoing conflicts. It also suggests that this trend is unlikely to reverse in the short term, and that military spending will continue to rise in the coming years.

In conclusion, the ongoing conflict in Ukraine has been a major contributor to the increase in global military spending, which is expected to continue due to the geopolitical tensions and conflicts in various regions worldwide.

Zain Saleem
Zain Saleem
Zain Saleem is an Islamabad-based Senior Journalist

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