Riyadh: Saudi Arabia’s military spending reached a record level of seventy-five billion dollars, a sixteen percent increase in defense spending in Saudi Arabia was recorded during one year.
According to the Stockholm International Peace Research Institute’s report on global military spending in 2022, Saudi Arabia ranks fifth in the world in terms of the increase in military spending.
This figure is 16 percent higher than a year earlier, when it ranked eighth in global military spending. With a 704 percent increase, Saudi Arabia spent more on defense than any other country except Ukraine. Spend more of your GDP.
It should be noted that the three countries that spend the most on defense in the world are USA, China and Russia.
The entire Middle East region will spend $184 billion on defense in 2022. In comparison, Israel’s defense spending will drop 4.2 percent to $23.4 billion as it makes cuts to balance its budget.
Overall, global military spending increased by 3.4 percent and reached an all-time high of $22.2 billion (2.2 trillion).
According to the sources, expenditure on civil defense and existing military activities, including ex-servicemen’s perks and benefits, demobilization, disposal of weapons and involvement of the army in non-military activities, etc., are not included in this report.
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