Europes budget boost: Poland and Germany lead military surge
In 2024, global military spending rose by 9.4%, exceeding $2.7 trillion. The European countries leading this increase are Poland and Germany.
According to data published by the Stockholm International Peace Research Institute (SIPRI), global military spending in 2024 increased by 9.4%, reaching over $2.7 trillion, which accounts for 2.5% of the world's GDP. This marks the largest annual increase since the end of the Cold War.
As highlighted by korrespondent.net, five countries are responsible for 60% of all military spending, totaling over $1.6 trillion. These countries are the United States, China, Russia, Germany, and India.
Germany significantly increased its defense spending, reaching $88.5 billion. This is a 28% increase compared to 2023. Poland also recorded a substantial increase of 32%.
In 2024, Poland allocated approximately $36 billion to defense, representing just under 4% of GDP. This was a record sum in the history of the Third Polish Republic, with over 40% allocated to new armaments and infrastructure investments for the Polish Armed Forces.
The budget of the Ministry of National Defense amounted to 115.6 billion PLN ($30,75 billion), with 99.91% being implemented. Planned spending for 2025 is expected to rise to 4.7% of GDP, and to exceed 5% in 2026.
Other European countries are also following the footsteps of Poland and Germany. Sweden, in its first year of NATO membership, increased expenditure by 34% to $12 billion, achieving the minimum military spending level of 2% of GDP, as stipulated by the alliance.
The two European nuclear powers, the United Kingdom and France, also increased their military expenditures. The United Kingdom by 2.8% to $81.8 billion, and France by 6.1% to $64.7 billion.
The situation is different in the case of Ukraine, which spent $64.7 billion, representing an increase of 2.9% compared to the previous year. These expenditures account for 34% of Ukraine's GDP, making Ukraine the most militarized economy in the world.
Situation in the Middle East and Asia
In the Middle East, the largest increase in military expenditures was recorded in Lebanon, where it rose by 58% to $635 million. Saudi Arabia remains the leader in the region with spending at $80.3 billion. Meanwhile, Iran decreased its spending by 10% due to sanctions and economic crisis.
In Asia, China increased its expenditures by 7% to $314 billion, which accounts for half of all military spending in the Asia-Pacific region. Taiwan increased spending by 1.8% to $16.5 billion, and Japan by 21% to $55.3 billion.
