Military spending worldwide last year saw its highest increase since the end of the Cold War in 1991, according to a report published on Monday by the Stockholm International Peace Research Institute (SIPRI).
Belgium was no exception, according to the report: SIPRI calculated the country’s defence spending last year at $8.6 billion, 1.4% of its GDP and a 7.4% increase from the previous year, placing Belgium 32nd worldwide.
Total global military expenditure last year exceeded $2.7 trillion (about €2.377 trillion) due to ongoing wars and conflicts.
“The figures reflect intense geopolitical tensions,” said Xiao Liang, a researcher from SIPRI’s Military Expenditure and Arms Production Programme. “This is unprecedented; it is the largest increase since the Cold War began.”
Liang warned that this high expenditure will have a significant socio-economic and political impact as countries need to make budgetary trade-offs.
Several European countries are cutting other budget areas, such as international aid, to finance increased defence spending, Liang explained, adding that some are even considering raising taxes or incurring debt.
The largest increases were observed in Europe and the Middle East, with Europe, including Russia, leading the spending surge, increasing by 17% to $693 billion.
Russia spent approximately $149 billion on its military in 2024, while Ukraine’s military budget was €64.7 billion. Despite being lower in absolute terms, Ukraine spends the highest percentage of GDP on its military at 34%.
In the Middle East, Israeli military spending rose by 65% to $46.5 billion due to the conflict in the Gaza Strip, SIPRI reported.
The United States was the largest global military spender, with $997 billion in 2024, accounting for 66 % of NATO member States’ total expenditure.
