Global Military Spending Soars 45 Percent in 10 Years

[Echo In Light]

Global Military Spending Soars 45 Percent in 10 Years

STOCKHOLM - World military spending grew 45 percent in the past decade, with the United States accounting for nearly half of all expenditures, the Stockholm International Peace Research Institute (SIPRI) said Monday.

Military spending grew six percent last year alone, according to SIPRI’s annual report.

In 2007, 1,339 billion dollars (851 billion euros) was spent on arms and other military expenditures, corresponding to 2.5 percent of global gross domestic product, or GDP, and 202 dollars for each of the world’s 6.6 billion people.

The United States spends by far the most towards military aims, dishing out 547 billion dollars last year, or 45 percent of global expenditure.

http://www.commondreams.org/archive/2008/06/09/9503/