Friday, 24 November 2017

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World’s military expenditure tops hunger crisis pleas by 383 times

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The world spends 1554 billion euros ($1686 billion) on military expenses each year – 4.3 billion euros on a daily basis and 2.2% of global GDP - according to the Stockholm International Peace Research Institute (SIPRI) Report published today. At $334 billion in 2016, Europe’s military spending accounted for 20% of global military expenditure. The figure is an increase of 2.8% compared with 2015. 

‘The growth in spending by many countries in Central Europe can be partly attributed to the perception of Russia posing a greater threat,’ said Siemon Wezeman, Senior Researcher with the SIPRI AMEX programme. ‘This is despite the fact that Russia’s spending in 2016 was only 27% of the combined total of European NATO members.’

Four of the fifteen largest military spenders in the world— France, the UK, Germany and Italy in ranked order—are in Western Europe. Together, they account for 10% of global military expenditure.

In order to tackle the looming famine in South East Nigeria, Somalia, Yemen and South Sudan the United Nations has called for 4.4 billion dollars. The amounts spent on arms would solve the hunger crisis 383 times over.

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