ECONOMY
Which countries spend the most money in military and defense in 2023?
The United States has a trinket welfare state and no public healthcare but still finds the money to pay for trillions in weapons of war.
Despite the impending debt default and government shutdown, one area of agreement between Republicans and Democrats in the debt ceiling negotiations is that the funding for the military is not to be lowered. In fact, one of the reasons for the US government to have reached its self-imposed debt ceiling is a record budget for warfare, totalling $857.9 billion. Half will be spent on private defense contractors after years of consolidation of the military-industrial complex.
The US as global hegemon has decided it must spend far more than all of its allies and opponents to retain the position. Proof of this is in the data which has the US military budget as large as the next ten nations combined.
No-one even comes close to overspending the heaving juggernaut. Imagine if even a fraction of that funding went on public healthcare.
The nations that will spend the most on war this year
1. United States: $857.9 billion
With what has already been said about US spending, there are other factors invovled too. Spending has been increased in the last year with a point towards the perceived threat of China. Spending has increased on shipbuilding alongside navy and air force aircraft with an eye on their eastern neighbour.
2. China: $224 billion
China has been increasing its military spending in recent years, reflecting its growing economic power and desire to modernise its armed forces by building aircraft carriers and developing future military aircraft. It has the world’s largest standing army at two million personnel.
3. Russia: $84 billion
It should be no surprise that Russia is near the top of this list. The Eastern European country has been at war with Ukraine for 15 months and has increased its spending by 10 percent since the war started. Though Russia is near the top of this list, it can only do so with the highest total expenditure; 17 percent of its annual budget is in the military.
4. India: $73.8 billion
One of the most populous nations on the planet, India has a large military that is reflected in its high spending. Conflicts such as those with China and Pakistan are accounted for and there have been clashes with these neighbours in the last five years.
5. Saudi Arabia: $69 billion
The Gulf state’s high defense budget is due to being involved in the war in their war in Yemen as well as preparation against their regional enemy Iran. It has been a major buyer of military equipment from various countries.