NATO DM Economies To Increase Defense Budgets Amid Escalating Geopolitical Tensions and External Pressures
Country Risk / Global / Thu 09 May, 2024
Key View
- Between 2000 and 2022, military spending in developed markets (DM) rose sharply, driven by inflation, advanced military technology costs, and increasing global security challenges.
- Military expenditure varies across DMs, averaging 1.7% of GDP and 4.4% of government expenditure; high spending may reflect security concerns, while low spending