Military Spending Up in Russia, Down Elsewhere
- The Moscow Times
- Apr. 15 2013 00:00
- Last edited 15:34
Military spending in North America and most of Western and Central Europe fell in 2012 but increased in Russia, Eastern Europe and developing countries, according to a report released Monday by an independent research institute.
The world's total military spending dropped 0.5 percent in real terms to $1.75 trillion, equivalent to 2.5 percent of global GDP, while Russia's military spending rose 16 percent and will continue growing through 2015, said the Stockholm International Peace Research Institute report.
U.S. military expenditure fell 6 percent in real terms in 2012, but it was still 69 percent higher than in 2001.
Between 2008 and 2012, 20 of the 37 countries in Western and Central Europe reduced military spending by more than 10 percent in real terms.