The military spending of Russia, which has been waging a three-year war against Ukraine, currently exceeds the defense spending of all European Union countries and the UK combined. This is the conclusion of the study "Military Balance", conducted by the UK-based International Institute for Strategic Studies (IISS). The document specifically analyzes the security problems that Europe will face if the US reduces its support for Ukraine and European defense.
What are the defense spending of Russia and EU countries
According to this study, Russia's total defense spending in 2024 will grow by 42% to 13.1 trillion rubles, which is equivalent to $ 462 billion in purchasing power parity. MISI predicts that in 2025, Russian military spending will grow by 13.7% to 15.6 trillion rubles ($ 550 billion). This corresponds to 7.5% of Russia's GDP or almost 40% of all federal spending, notes the "Financial Times”.
For comparison, European defense budgets, including spending by the United Kingdom and EU countries, grew by almost 12% last year - to $ 457 billion. In particular, Germany's defense budget increased by 23% to $ 86 billion. Thus, for the first time in 30 years, it is higher than the British, which is $ 81 billion, the publication also says. However, this statistic is explained by a one-time investment from a special fund for the modernization of the Bundeswehr.
France's defense budget, traditionally the second largest in Europe in absolute terms, has increased by 4.5% to $64 billion in 2024. Among the countries with the highest defense spending in Europe, Estonia, which borders Russia, spent nearly 4% of GDP on defense last year. Poland is in second place with 3.25%. However, in absolute terms, these countries' defense spending is much lower than that of the three largest European economies: $1.7 billion and $28 billion, respectively.