SIPRI: Russia is one of top-5 countries with highest defense spending

Total global military expenditure increased by 0.7% in real terms in 2021, to reach $2.113 trillion, Report informs, citing the Stockholm International Peace Research Institute (SIPRI).

The five largest spenders in 2021 were the United States ($801 billion), China ($293 billion), India ($76.6 billion), the United Kingdom ($68.4 billion) and Russia ($65.9 billion), together accounting for 62% of expenditure, according to new data on global military spending published by the SIPRI.

World defence spending has been rising steadily for the seventh year in a row.

According to the institute, Russia's military spending has been rising for three years. The increase compared to last year was 2.9%.

SIPRI also noted the increase in Ukraine's military spending after the Russian annexation of Crimea in 2014. Between 2014 and 2021, Ukraine's military budget increased by 72%.