US, China Top Defense Spenders, Russia Out From Top 5

Recently, Russia has come down from the top five positions of countries which spent a great deal of money in military and defense. The report was made public on April 29, 2019. According to reports, last year the compounded military expenditure of several global economies was around $1.8 trillion. The total expenditure on arms and ammunition was around at a rise of 2.6% in comparison to 2017.

According to sources the five economies which are spending big time in the purchase of military weapons are America, China, India, Saudi Arabia, and France. Researchers also stated that since 2010 US has increased its overall military budget and it’s been the 24th year in continuation where China has spent lavishly on military arms and ammunition.

In 2018, US had spent a total of $649 billion in ammunition, whereas China had spent a total of $250 billion. Though Russia was still on the 6th position, its expenditure on arms has decreased by 3.5%.

According to an individual think tank, Russia had started to increase military budget back in 2010 which was around a rise of 16% in 2015. The think tank further said that since 2016 the country had witnessed a decrease in the military budget. The report further points out that many European nations like Poland have started to increase its military budget after looking at the trend of many neighboring nations.

During an exclusive press interview, Pieter Wezeman said that the present trend is seen in European nations as they feel threatened by Russia. Contrary to the reports, Vladimir Putin has recently showcased many weapons which were bought by the country. Few analysts also believe that Russia might have decreased its spending on the military weapon as it had to suffer loss in petroleum export and the country is also facing an economic crisis.