Global military spending last year saw its highest increase in ten years, against the backdrop of growing rivalries between major powers and the race for new technologies, according to the IISS Institute's annual report released on Friday. The progression reached a total of 4%, indicates this report presented at the opening of the Munich Security Conference.
The two largest military budgets in the world, those of the United States ($ 685 billion) and China ($ 181 billion), continue their exponential growth, with an increase of 6.6% in both countries in 2019 compared to 2018. U.S. spending alone increased by $ 53.4 billion last year, the equivalent of the seventh global defense budget, after that of Saudi Arabia (3rd), Russia (4th) ), India (5th), the United Kingdom (6th) but before those of France (8th), Japan (9th) and Germany (10th).
" These expenses increased with the exit of the economies from the financial crisis (of 2008) and under the effect of an increased perception of threats ", noted the director general of the International Institute for Strategic Studies (IISS, International Institute for Strategic Studies). " In Europe, concerns about Russia continue to fuel growth in spending with an increase of 4.2% compared to 2018, " also points out John Chipman. Military budgets thus return to their 2008 level in real terms.
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