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Global defence budget jumps to record high of $2440bn
For the first time, government military spending increased in all five geographical regions, Sipri thinktank finds
Global military expenditure has reached a record high of $2440bn (£1970bn) after the largest annual rise in government spending on arms in over a decade, according to a report.
The 6.8% increase between 2022 and 2023 was the steepest since 2009, pushing spending to the highest recorded by the Stockholm International Peace Research Institute (Sipri) in its 60-year history.
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