In 2023, African countries spent a total of $51.6 billion, accounting for 2.1% of the world total. Still, this figure was a huge jump of 22% from the previous year. The huge 2023 jump was mainly driven by two countries ravaged by internal conflict – the DRC and South Sudan – and Algeria, which is experiencing a fossil fuel export boom. Together, their increases accounted for 87% of the overall rise in Africa’s spending. Analysts say that both countries need to address growing insecurity, but there is a trade-off with scarce resources needed for critical societal issues. Global military expenditure is dominated by the United States and China, with 49% of total spending between them. According to the most recent report by the Stockholm International Peace Research Institute, global military spending reached US$2.4 trillion in 2023, a 6.8% increase in 2022.
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Source link : https://www.africa.com/two-countries-in-africa-registered-the-highest-year-on-year-increases-in-military-spend-in-the-world/
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Publish date : 2024-07-20 14:43:23
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