Latest SIPRI Report

The Stockholm International Peace Research Institute (SIPRI) is a world-renowned think tank that specializes in research and analysis of security issues. Established in 1966, SIPRI conducts independent research on issues related to peace, conflict, and security. The institute publishes various reports and databases, including its flagship publication, the SIPRI Yearbook. A new data released by SIPRI revealed a surge in defence spending.

Worldwide Military Expenditure

According to SIPRI’s latest data, global military expenditure increased by 3.7% year-on-year, reaching $2.3 trillion. This is the biggest jump since 2009, and the total spending is now 10% higher than in 2012.

Russia’s All-Out War Against Ukraine Spurs Increased Military Spending

The ongoing conflict between Russia and Ukraine has led to increased military spending by European countries. Many European nations are rethinking their defense budgets and increasing their investment in defense capabilities due to Russia’s aggression. Russia’s behavior has raised concerns about the security of European nations, especially those that are NATO members.

NATO’s Defense Spending Goal

In 2014, NATO members agreed to meet the target of spending 2% of their national GDP on defense by 2024. The goal was set to ensure that NATO members could collectively deter and defend against any potential threats.

Russian Threat in Cyberspace

While the Russian threat has not materialized as expected, experts warn that Russia could be a potent adversary in cyberspace. Russia has been accused of engaging in cyberattacks against other countries’ infrastructure, such as the United States’ colonial pipeline.

Defense Spending Compared to GDP

In 2022, the share of GDP spent on defense was 0.1% lower compared to 2013. However, countries such as China, India, and Israel have seen double-digit increases in defense spending over the past decade, though defense spending has not increased as a percentage of their national economic output.

The “Lag Effect” in Defense Spending

One important consideration when assessing the effectiveness of defense spending is the “lag effect.” Weapon systems take years to develop, procure, and press into service, which means that it can take time for the effects of increased defense spending to be fully realized. Additionally, defense ministries spend their budget not only on buying new weapons and upgrading fighting forces, but also on employing personnel, administration, and military aid.

Month: Current Affairs – April, 2023

Category: Defence Current Affairs