2024-08-24 07:00:00
largeMilitary spending in Europe had been falling since the 1970s until 2018, reaching just 1.5% of GDP this year, compared to 3% of GDP in the 1970s, recovering slightly over the past six years to 1.8% of GDP in 2023. GDP. In comparison, the United States spends 3.4% of GDP on its military, and global military spending accounts for 2.6% of GDP.
In the 1970s and 1980s, world military spending levels were much higher than today (4% to 5% of GDP), but the planet has not experienced major conflicts since the end of the Vietnam War, probably due to the deterrent effect of such high military spending.READ ALSO Military spending hits new high in 2023…
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