Trends in world military expenditure
World military expenditure increased for the ninth consecutive year in 2023, reaching a total of 2,443 billion USD. The 6.8 per cent increase in 2023 was the steepest year-on-year rise since 2009 and pushed global spending to the highest level ever recorded. Total military expenditure accounted for 2.3 per cent of global gross domestic product in 2023. World military spending per person was the highest since 1990, at 306 USD. The rise in global military spending can be attributed primarily to the ongoing war in Ukraine as well as escalating geopolitical tensions in the Middle East and Asia, while military expenditure went up in all five geographical regions. And this tendency will remain.Romania has steadily increased its defense budget, exceeding the 2% NATO threshold for the eighth consecutive year. In 2024, the defense budget was approximately €8.6 billion or 2.3% of GDP, much higher than in 2023. The defense budget structure reflects a growing interest in robust investments in military capabilities.