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International Business Times
International Business Times
Business

Conflicts Spur 'Unprecedented' Rise In Military Spending

SIPRI Cold War NATO Cold War
Military spending rose worldwide with particularly large increases in Europe (Credit: AFP)

Worldwide military expenditure saw its steepest rise in 2024 since the end of the Cold War, reaching $2.7 trillion as wars and rising tensions drove up spending, researchers said Monday.

Military spending rose worldwide with particularly large increases in Europe and the Middle East, according to a new report by the Stockholm International Peace Research Institute (SIPRI).

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