Report, which grew by 2.6% against a decline in GDP of 4.4
(ANSA-AFP) – STOCKHOLM, APRIL 26 – Global military spending continued to rise in 2020, despite the Covid-19 pandemic, reaching almost 2,000 billion dollars, against a significant decrease in world GDP. This was revealed by a report by the Stockholm International Research Institute for Peace (Sipri).
Last year, military spending on the planet amounted to around 1.650 billion euros, an increase of 2.6% year-over-year while global gross domestic product fell by 4.4%.
And in 2019, the highest level since the end of the Cold War had already been reached.
The increase in military spending in the face of an economic slowdown means – the researchers note – that the share of military spending in the GDP of many countries has also increased: on average by 0.2 points in a year worldwide, at 2 This is – observes the report – the largest increase on an annual basis since the financial crisis of 2009.
Last year, 12 NATO countries spent at least 2% of their GDP on their armed forces – the target set by the organization, up from nine in 2019. However, while military spending has increased globally, some nations such as Chile or South Korea have preferred to redirect part of the budget reserved to this item of expenditure to respond to the health crisis. Other countries, such as Hungary, have instead decided to increase their military spending “as part of a stimulus plan in response to the pandemic”.
The country that spent the most in this field – underlines Diego Lopes da Silva, co-author of the report – remained the United States, with an increase of 4.4%, to 778 billion dollars, equal to 39% of global spending. Three years of increases encouraged by the Trump presidency, although so far, notes Da Silva – the new Biden administration “has given no indication of cutting military spending.” Behind the United States is China, with 13% of global military spending.
(ANSA-AFP).