Due to war in Ukraine, military expenses are highest since Cold War 

Voice of America writes about the study conducted by global security researchers. 

Europe's military spending surged to Cold War levels in 2022 due to Russia's invasion of Ukraine, leading to an eighth consecutive global record in military expenditures, which totaled $2.24 trillion or 2.2% of the world's GDP, according to the Stockholm International Peace Research Institute (SIPRI). Nan Tian, one of the study's co-authors, stated that the rise in military spending is driven by the war in Ukraine and increasing tensions between the US and China in East Asia.

According to him, Europe increased its military spending by 13% in 2022, not accounting for inflation rates, due to the Russian invasion of Ukraine. This is the highest increase in 30 years, returning spending to 1989 levels when the Berlin Wall fell. 

The article states that Ukraine spent $44 billion, a third of its GDP, which is seven times more than before, and also received weapons donations worth billions of dollars. Russia's spending increased by 9.2% last year.

European spending has increased significantly, even without the warring nations, the article says. It rose by one-third in the past decade to $480 billion, and the trend is expected to continue and accelerate. There is potential for growth levels similar to 2022 for several years. Global military expenditure declined in the 1990s but has been increasing since the 2000s due to China's investments and renewed tensions with Russia after the annexation of Crimea in 2014.

The US and China accounted for over 50% of the world's military spending, with the US leading at 39% and China at 13%. Russia, India, and Saudi Arabia were next in line with 3.9%, 3.6%, and 3.3% respectively. China is investing in its naval forces to expand its reach, and Japan, Indonesia, Malaysia, Vietnam, and Australia are following the trend. Britain leads in Europe at 3.1%, followed by Germany at 2.5% and France at 2.4%, including donations to Ukraine. Other European countries like Poland, the Netherlands, and Sweden have also increased military investments, while Finland purchased 64 US F-35 fighter jets last year.