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looking beyond borders

foreign policy and global economy

Global Military Spending Falls For First Time Since 1998

Global military spending fell for the first time since 1998 despite spending increases in Russia and China, according to the Stockholm International Peace Research Institute’s (SIPRI) annual report,which was released on Monday.

“Global military expenditure fell in 2012, to $1753 billion, equivalent to 2.5 percent of global gross domestic product (GDP). Although the fall was only 0.5 percent in real terms, this was the first decrease since 1998,” the report said.

Read Here – The Diplomat

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