Military spending reaches record levels: report

Image Credit: NZDF 

Global military spending rose again in 2021, setting new records as Russia continued to beef up its military prior to its invasion of Ukraine, researchers said Monday, predicting the trend would continue in Europe in particular.

Despite the economic fallout of the global Covid pandemic, countries around the world increased their arsenals, with global military spending rising by 0.7 percent last year, according to a report by the Stockholm International Peace Research Institute (Sipri).

"In 2021 military spending rose for the seventh consecutive time to reach $2.1 trillion. That is the highest figure we have ever had," Diego Lopes da Silva, senior researcher at Sipri, told AFP.