Web Desk
According to the report on global military spending in 2022 by the Sweden-based Stockholm International Peace Research Institute (SIPRI) that Saudi Arabia has overtaken Britain, Germany, and France and is the fifth largest military spender in the world.
In the year 2022, Saudi Arabia’s military expenditure reached 75 billion dollars, which is 16 percent more than a year ago. Then it was ranked eighth in the world’s military expenditure.
With a 7.4 percent increase, Saudi Arabia spent more of its GDP on defense than any other country except Ukraine. The entire Middle East region will spend $184 billion on defense in 2022. In comparison, Israel’s defense spending fell 4.2 percent to $23.4 billion as it made cuts to balance its budget.
Overall global military spending increased by 3.4 percent and reached an all-time high of $22.2 billion (2.2 trillion).
The ongoing war in Ukraine has seen the largest year-on-year increase in European military spending in the last 30 years. The three largest defense spenders in the world overall are the US, China, and Russia. Their share in the world’s total defense expenditure is 56 percent, while Saudi Arabia’s share is 3.3 percent.
Ukraine is ranked 11th overall. It increased its spending by 640 percent to $44 billion, or 34 percent of its GDP. Notably, the United Arab Emirates was awarded the SIPRI award. Statistics are not included in this report.
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It said in a separate 2016 report that the country’s military spending has not been officially available since 2014. Dr. Nan Tian, senior researcher at SIPRI’s Military Spending and Arms Production Program, said in a statement. That rising costs are a sign that we are living in an increasingly unsafe world.
