Russia among the top three in military spending
Russia was third in the world in military spending in 2016. This was reported by the Stockholm International Peace Research Institute (SIPRI).
Russia's expenditures on armaments were $69.2 billion, a 5.9% increase over the previous year. The United States remained in first place in terms of military spending; in 2016 its expenditures increased by 1.7% to $611 billion. China was second at $215 billion.
The amount spent on arms globally increased by 0.4% to $1686 billion. Total military expenditures around the globe accounted for 2.2% of the world’s GDP.
Analysts of the institute suggest that the increase in US military spending means an end to the trend of spending cuts that were brought on by the global crisis. It was noted that military spending in Western Europe grew for the second consecutive year, increasing by 2.6% in 2016.
“The increase in spending in many countries of Central Europe is partly due to the perception of Russia as a country that poses an increased threat,” SIPRI researcher Simon Vezeman said.
In oil-exporting countries, there was a decrease in the amount spent on armaments. Experts say that this was because of the fall in oil prices and economic problems. The largest reduction in arms spending in countries that export oil was seen in Venezuela (-56%), Southern Sudan (-54%), Azerbaijan (-36%), Iraq (-36%) and Saudi Arabia (-30%).