According to SIPRI, European defense spending increased by 17% in 2022, reaching $693 million, contributing to a global rise of 9.4%. The surge was primarily attributed to the ongoing Russian-Ukrainian conflict and fears of decreasing American involvement in NATO. Russia's military spending rose by 38%, with Ukraine dedicating 34% of its economy to defense. Experts believe that while increased spending is necessary to restore European militaries, it reflects a shift in global military dynamics, emphasizing the need for effective systems and partnerships over mere financial investment.
"The rapid spending increases among European NATO members were driven mainly by the ongoing Russian threat and concerns about possible US disengagement within the alliance."
"Most of Europe's defence spending increase... addressed the need to rebuild defunct European militaries."
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