Abb Takk News

US, China Lead Global Increase In Defense Spending

WEB DESK: The world spent 4% more on defense in 2019 than the year before, the largest increase in 10 years, with the US investing around four times as much in purchasing arms and weapons research and development as all European states combined, a study said on Friday.

Both the US and China upped their spending by 6.6%, the International Institute for Strategic Studies’ annual “Military Balance” report showed. Washington spent $684.6 billion (€631.8 billion) on its defense budget, with $275.4 of that going on arms procurement and R&D (or “defense investments”). That figure on it own is more than Beijing’s total defense spending of $185 billion and almost three times as much as Chinese spending in the same sector.

In another gauge of the relative size of the US military budget, just the increase in Washington’s defense spending from 2018 to 2019 — $53.4 billion — was almost as much as the entire UK defense budget, according to the report.

Russia came in third for defense-investment spending, according to the IISS study, but its budget was almost 10 smaller than that of the US.