According to a report issued by the Stockholm International Peace Research Institute (SIPRI) (1), France lost in 2017 for the benefit of India its fifth place in the world rankings of military expenditures.
With a decline of 1.9% in military spending, France spent USD 57.7 billion for its military, or 2.3% of its GDP. At the same time, India spent USD 63.9 billion, a significant increase of 5.5% year-on-year, ultimately doubling its military budget since 2008.
Out of a global total of USD 1.7 trillion military spending, the US alone totals USD 610 billion, China multiplies its own by 2.6 since 2008 from USD 86.3 billion to USD 228.2 billion while the budget of Russia drops 20% in just one year to USD 66.3 billion, a first decrease since 1998. Saudi Arabia has the third world military budget with USD 69.6 billion.
According to Cyceon, this annual SIPRI report, of which one reminds that it is based on open sources and that classified budgets may not be taken into account, provides three essential insights. Read More…