11:01 - 22.04.2024

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April 22, Fineko/abc.az. For the first time, military spending exceeded $2 trillion.

Global defense spending exceeded $2 trillion for the first time, increasing by 10.4% in 2023.

ABC.AZ reports that according to portal Defense One, most of the expenses accounted for the purchase of artillery systems and ammunition, tanks, air defense missiles and unmanned aerial vehicles.

The portal says that defense spending has increased to $2.12 trillion for reasons such as the conflicts in Ukraine and Gaza, rising tensions in the Red Sea region and the launch of modernization programs for the national armed forces in Azerbaijan.

Analysts say that despite slowdown in global economic growth, defense spending could continue to grow until 2030.