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Article: Global military spending hits $956 billion in 2003.(World Notes)
- Article from:
- Catholic New Times
- Article date:
- July 4, 2004
CopyrightCOPYRIGHT 2004 Catholic New Times, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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STOCKHOLM -- World military spending surged during 2003, reaching $956 billion (U.S.), nearly half of it by the United States as it paid for missions in Iraq, Afghanistan and the war on terror, a prominent European think-tank said today.
The money has been effective in waging war, but threats of terror and weapons of mass destruction still exist, according to the Stockholm International Peace Research Institute (SIPRI) www.sipri.se
Military spending rose by 11 per cent, which the group called a "remarkable increase." The amount was up 18 per cent from 2001.
The $956 billion spent on defence costs worldwide corresponded to 2.7 per cent of the ...