Global Military Spending is Rising Amid Concerns About Conflict!

Despite the ongoing global economic recession, most countries are indiscriminately increasing their military and defense spending in the wake of the wars in the Middle East and the Ukraine-Russia conflict. Particularly in Europe, the Asia-Pacific region, and the Middle East, countries have boosted their military spending by 140% to 300% in recent years or are planning to do so. Meanwhile, according to a report from the International Peace Research Institute published on April 22, 2024, approximately $2.443 trillion was spent on the military and defense sector worldwide in 2023, and this amount may exceed $2.8 trillion by December 2024.

On December 3, the Russian parliament announced a record military budget for 2025. President Vladimir Putin approved a military and defense budget of 13.5 trillion rubles (approximately $126 billion) for the upcoming year and signed the defense bill, which is about $28 billion more than the current military budget for 2024. Moreover, next year, Russia is projected to spend around 32.5% of its total government budget on the military sector to sustain its efforts in the war in Ukraine. However, according to information provided by Al Jazeera, Russia has allocated a military budget of $145 billion for 2025.

In fact, Russia has increased its national military and defense budget by two to three times since 2022 to prolong the war in Ukraine and strategically confront the Western world. The country has already spent billions of dollars to develop or acquire new missiles and combat drones. Additionally, to address its own weapons shortages, Russia has recently imported billions of dollars' worth of weapons and ammunition from countries like Iran, China, and North Korea.

Russia has also allocated significant funds to enhance its nuclear arsenal and develop strategic intercontinental ballistic missiles and hypersonic missiles. However, although the Russian government has officially stated its military spending is $126 billion, it may have actually been spending an average of about $200 billion or more each year since the onset of the war in Ukraine. This has undoubtedly placed the country on the verge of long-term economic contraction and crisis. To address this situation, the country’s central bank has already raised its interest rate to 21%.

The U.S. House of Representatives has approved a defense budget of $884 billion for the next fiscal year (2025) to strategically confront China, Iran, and Russia, as well as to address the looming threat of World War III. This represents a 1% increase compared to the military spending recorded in the previous fiscal year. Meanwhile, the United States is set to spend about seven times more on its military than the $126 billion military budget recently announced by Russia. Additionally, the country plans to spend an extra $140 billion to increase its nuclear weapons stockpile and modernize strategic nuclear facilities.

Despite the ongoing economic recession, China has announced a considerable military and defense budget of $222 billion for the next fiscal year (2025), which is about 7.2% more than the current allocation for 2024. However, according to predictions made by several military research think tanks, China may spend an estimated $350 billion to $471 billion by December 2024. The Chinese government, however, never discloses its actual military and defense spending to the global community.

Meanwhile, India has emerged as the world's fourth-largest country in military and defense spending, alongside the United States, China, and Russia. For the current 2024-25 fiscal year, the Indian central government has announced a total defense budget of approximately $75 billion, compared to about $71 billion in the previous fiscal year (2022-23). Moreover, the United Kingdom, which ranks fifth in the world in military spending, has allocated $71.92 billion. Additionally, many other influential countries worldwide have significantly increased their military and defense budgets due to fears of World War III or nuclear war, which threatens to drag the entire world into an uncertain and terrible conflict.

It is indeed disheartening to acknowledge that approximately 40% or more of the global arms trade value is directed towards affluent Arab countries in the Middle East. Furthermore, numerous European nations have significantly escalated their military and defense expenditures in response to the perceived threats posed by Russian military actions and the looming specter of World War III. Since February 24, 2022, the conflict between Russia and Ukraine has resulted in over 600,000 military and civilian casualties, marking a tragic chapter in contemporary history.

In this context, the NATO alliance, spearheaded by the United States, appears intent on leveraging Ukraine to inflict substantial military losses on Russia. Conversely, Russia is determined to secure control over Ukraine at any cost. The potential for immense loss of life among soldiers and civilians on both sides is stark; however, it seems that influential countries remain indifferent to these casualties, focusing instead on strategically undermining Russia. Should the conflict persist until 2026, projections indicate that the total number of deaths and casualties could surpass 800,000—a figure that would signify one of the most severe humanitarian crises and instances of ethnic cleansing in the 21st century.

References: DW, SIPRI, Guardian, CNN, Al Jazeera, Wikipedia.

Sherazur Rahman, Teacher and Writer, Singra, Natore, Bangladesh. Email: sherazbd@gmail.com