Armenia is Among Countries Allocated Over 4% of its GDP for Military Spending in 2019

• 04.27.2020, 18:47
•  World,  Armenia

Armenia is included in the list of 10 countries that allocated over 4% of their GDP for military spending in 2019, News.am reports․ 

According to the report of Stockholm International Peace Research Institute, in 2019 Armenia spent 4.9% of GDP on military spending.

Oman is ranked first with 8.8 %, leaving behind Saudi Arabia (8.0%), Kuwait (5.6%), Israel (5.3%), Jordan (4.7%) and Lebanon (4.2%), Algeria (6.0%), Armenia (4.9%), Azerbaijan (4.0 percent) and Pakistan (4.0 percent).

According to the report, the global military spending in 2019 is estimated at $ 1917 billion, the highest level since 1988. The total amount was 3.6 % higher in real terms than in 2018 and 7.2 % higher than in 2010.

World military spending grew every five years, starting in 2015, and steadily declining from 2011 to 2014 after the global financial and economic crisis.

The global military burden was 2.2 percent in 2019, a slight increase since 2018.

The five countries that last year allocated the maximum funds for military spending include the US, China, India, Russia and Saudi Arabia.