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.
Related articles:
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
