Saudi Arabia has third largest military expenditures
The Stockholm International Peace Research Institute(SIPRI) estimates global military spending at $1.7 trillion for the year 2015. This is the first year-on-year increase since 2011.
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|Global military spending increased one percent from last year. The data was released to coincide with the start of the Stockholm Forum on Security and Development. The report can be found here.|
"Military spending in 2015 presents contrasting trends, On the one hand, spending trends reflect the escalating conflict and tension in many parts of the world; on the other hand, they show a clear break from the oil-fueled surge in military spending of the past decade. This volatile economic and political situation creates an uncertain picture for the years to come."Saudi Arabia is increasing military spending even in spite of the steep decline in oil prices as is Russia.
Military expenditure refers to all government spending on current military forces and activities, including salaries and benefits, operational expenses, arms and equipment purchases, military construction, research and development, and central administration, command and support. SIPRI therefore discourages the use of terms such as ‘arms spending’ when referring to military expenditure, as spending on armaments is usually only a minority of the total.