New figures from SIPRI have been released.
At $66.3 billion, Russia’s military spending in 2017 was 20 per cent lower than in 2016, the first annual decrease since 1998. ‘Military modernization remains a priority in Russia, but the military budget has been restricted by economic problems that the country has experienced since 2014,’ said Siemon Wezeman.
This makes Russia an exception to the global rule of rising military spending.
China continues to gain rapidly on the US, even while spending a lower share of its GDP. Adjusting for PPP, total Chinese military spending might be close to approaching American levels.
With that decrease, a bunch of middle powers – India, France, and Saudi Arabia – have now nudged ahead of Russia in military spending.
PS. Need to make an update to the CMP.
PPS. Scale on the left axis should ofc be millions, not billions.