The world spent a record 183 lakh crores on defense-weapons

The world spent a record 183 lakh crores on defense-weapons, with China’s budget being four times larger than India’s due to the conflict between Ukraine and Russia.

2022, the world spent 2.24 trillion dollars, or Rs. 183 lakh crore, on defence and weapons. The amount now being spent on the military is the highest ever. The annual report of Sweden’s Stockholm International Peace Research Institute (SIPRI) contains this information on the world’s defence budgets.

The report claims that the war between Russia and Ukraine is to blame for the rise in spending. The report claims that the war has only caused the cost of defence on the continent of Europe to rise by 13% in a single year. The highest level in the previous 30 years is this.

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The budget of China is four times that of The rapid increase in military spending, according to India’s senior SIPRI researcher Nan Tian, is a sign of how unsafe the world is for us to live in. The war has caused the nations bordering Russia to spend more money quickly on security. While Lithuania’s military spending has increased by 27%, Finland’s has increased by 36%. More than 36 lakh crores have been spent here during the war, despite a 6% increase in Ukraine’s spending.

China has increased its defence budget by 4.2% in response to increased tensions with the United States over Taiwan and the South China Sea. Following this, China has surpassed the United States as the world’s second largest spender on defence. China’s budget is now nearly four times that of India. In 2022, India spent 6 lakh crores on defence, while China spent 23 lakh crores.

Despite record inflation, the United States increased its defence budget.

According to the report, Central and Western Europe spent more money on military in 1989 than they did during the Cold War. These nations have spent a total of Rs 28 lakh crore on defence. On the other hand, despite record inflation, America has increased its defence spending, according to SIPRI. This equates to 39% of the global defence budget. While inflation in the United States has reached its highest level since 1989.

Professor Nan Tian of SIPRI stated that American spending on defence would have increased had inflation not risen. Tian added that the US defence budget increase is also a result of the conflict in Ukraine. The United States spent one lakh crore rupees in 2022 to help Ukraine militarily.

Saudi Arabia is also rapidly increasing its expenditure.

In 2022, Saudi Arabia plans to increase military spending by 16%. This is the highest level since 2018. Saudi Arabia spent 6 lakh crores on security last year. At the same time, NATO member countries’ defence spending increased by 0.9%. NATO countries will have spent 1232 billion dollars on security by 2022.

In addition, Britain has increased military spending to assist Ukraine in the face of record inflation. There will be a total expenditure of Rs 562 crore in 2022.