Watchdog: World military spending up to an all-time high

STOCKHOLM (AP) — A Sweden-based watchdog says global military spending grew for the eighth consecutive year in 2022 to an all-time high of $2.24 trillion. There was a sharp rise of 13% in Europe, chiefly due to Russian and Ukrainian expenditure. In a report released Monday, the Stockholm International Peace Research Institute said military expenditure in Europe saw its steepest year-on-year increase in at least 30 years. Military aid to Ukraine and concerns about a heightened threat from Russia “strongly influenced many other states’ spending decisions.” The three largest spenders last year were the United States, China and Russia, who jointly accounted for 56% of the expenditure.