Rabat, Morocco (TMT)- The Stockholm International Peace Research Institute (SIPRI) has released its yearly report on global military spending, revealing that global military expenditure reached a record high of $2.24 trillion in 2022, an increase for the eighth consecutive year.
In terms of North Africa, the report shows that military spending in the region fell by 3.2%, reaching $19.1 billion in 2022, with Morocco and Algeria accounting for 74% of the region’s military expenditure.
The report indicates that Morocco’s military spending dropped from $5.4 billion in 2021 to $5 billion in 2022, while Algeria’s spending increased by 3.7% to $9.1 billion in 2022.
The United States, China, and Russia accounted for 56% of the world’s total military spending.
The United States remained the country with the highest military spending, at $877 billion in 2022, while China was the second-highest, at an estimated $292 billion in 2022.
The Moroccan Times.
