.jpg)
4 hours ago
1
Article content
Defence spending surged last year by the most since at least the end of the Cold War, according to data published Monday, with European countries rushing to bolster their security in the face of threats from Russia.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
Article content
Military expenditure worldwide rose 9.4 per cent from 2023 to just over US$2.7 trillion, the Stockholm International Peace Research Institute said in a report.
Article content
Article content
Wars in Ukraine and the Middle East have dramatically worsened the security outlook for Western nations and forced many of them to end a long-standing reluctance to boost spending on their armed forces significantly.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
The Bloomberg World Aerospace and Defence Index, which includes companies such as Germany’s Rheinmetall AG and Lockheed Martin Corp., has jumped 16 per cent so far in 2025, even as tariff wars cause a wider stock-market slump.
Article content
Article content
Europe was the main driver of the military build up. The continent, including Russia, spent US$693 billion on defence, 17 per cent more than a year earlier, SIPRI said.
Article content
Germany, whose new government has pledged to turbo-charge military funding, is once again the most prolific spender in Western Europe. It boosted defence expenditure by 28 per cent to US$89 billion, the fourth-highest figure globally.
Article content
Article content
European states have mobilized billions of dollars in additional defence funds to counter the threat of Russian aggression and to compensate for President Donald Trump’s dramatic pullback on American commitments to the continent’s security.
Article content
Article content
All 32 NATO members increased their military expenditure in 2024, with 18 spending at least two per cent of gross domestic product on their militaries, according to SIPRI methodology.
Article content
Article content
Russia, grinding into the fourth year of its invasion of Ukraine, upped military spending to US$149 billion, a 38 per cent increase. The gap continued to widen with Ukraine, which spent US$65 billion, 2.9 per cent more than in 2024. That amounts to 34 per cent of the Ukraine’s GDP, the largest burden globally.
Article content
“In such a tight fiscal space, it will be challenging for Ukraine to keep increasing its military spending,” said Diego Lopes da Silva, another SIPRI researcher.
English (US)