Sanctions force Russia to cut defence spending

03 May, 2018, 10:01 | Author: Essie Rivera
  • SIPRI Fact Sheet May 2018: Trends in world military expenditure, 2017

Overall, world military expenditures rose to $1.739 trillion in 2017, a rise of 1.1 percent.

According to the 2017 world military spending rose 1.1% to $1739 billion, and more money for military budget spending of the United States of America, to the report of the Stockholm global Institute for peace studies (SIPRI, SIPRI).

SIPRI said India's defense spending increased 5.5 percent in 2017, to $63.9 billion. The report also mentioned that China's military expenditure rose again in 2017, continuing an upward trend that has lasted for more than two decades.

"Now in 2017 Russian Federation has substantially decreased, about 20 percent decrease, in military spending, mainly due to economic pressure". "It undermines the search for peaceful solutions to conflicts around the world".

The United States, which remains the world's biggest military spender at US$610 billion, spent more on its military than the seven next highest-spending nations - China, Saudi Arabia, Russia, India, France, the UK and Japan - combined, SIPRI said.

Nan Tian, a SIPRI researcher said that, globally speaking, "the weight of military spending is clearly shifting away from the Euro-Atlantic region".

Because of what is perceived as a growing threat from Russian Federation, military spending in Europe increased in 2017. Turkey increased its military spending to $18 billion in 2017, ranked 15th, according to the report, compared to the 2016 report with $14.9 billion. Some officials at the Kremlin have called for lower military spending to free up funds for such domestic initiatives.

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It also showed that Russia's military spending fell for the first time since 1998 but military expenditure rose in Central and Western Europe while higher spending by Saudi Arabia drove the increase in the Middle East.

"Countries feel the need for substantial spending on their military; spending right now is higher than in the last years of the Cold War, a bit higher in constant terms, excluding the whole inflation idea".

However, its share of GDP (4.3%) "was still higher than any other European country had recorded since 2011".

"The downward trend in US military spending that started in 2010 has come to an end", said Aude Fleurant, a SIPRI analyst. The decrease in Africa was its third consecutive annual fall in military spending, while that in Europe was the first since 2013. Other notable increases in the region were those of Latvia and Lithuania, both of which increased their military spending by 21 percent.

However, commenting on the Middle East as a whole he said there was a "bit of a yo-yo movement there".

Various Pentagon officials argued that cuts to the USA defense budget, particularly those that came as part of the so-called sequestration agreement reached by the Republican-led Congress and Obama, reduced America's military readiness.

SIPRI said its figures include salaries, costs for operations, purchases of arms and equipment as well as research and development.

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