Iran’s Military Spending Surpasses Israel and Canada in Current Year

According to the latest report by consulting firm IHS Markit, global military budgets experienced an unprecedented increase in 2018. NATO’s military budget has risen sharply, and Iran’s military expenditures have surpassed those of Israel and Canada.

According to a report by consulting services company “IHS Markit,” global military budgets in 2018 have risen to an unprecedented level compared to the past decade.

Based on this report, which was published by the French news agency, the global military budget in the current year reached one trillion and 780 billion dollars with an increase of 4.9 percent. The highest budget increase, which amounts to 5.8 percent, can be seen in the NATO defense organization, which is largely due to the increase in U.S. military spending.

According to the report, in 2018 the defense spending of NATO member states amounted to 989 billion dollars. This spending will exceed one trillion dollars in 2019.

Fenna McGerty from “IHS Markit” said: “After going through a difficult financial period and given increasing crises, NATO members have begun to increase their defense budgets.”

In the table of global military budget increases in 2018, the first rank belongs to the United States with 702 billion and 500 million dollars. After that comes China with 207 billion and 600 million dollars. Germany is also ranked 9th with a military budget of approximately 44 billion and 500 million dollars.

According to this report, particularly Saudi Arabia’s defense spending has increased significantly. This country, with a budget of 56 billion dollars, ranks fifth in this table.

Iran’s Position

According to the report by consulting services company “IHS Markit,” Iran has surpassed Israel and Canada in terms of military expenditures and ranks 15th in the aforementioned table with 17 billion and 400 million dollars. Mohammad Javad Zarif announced on December 14th at the fourth national congress of the Nedaye Iranians party that Iran’s total defense budget was less than 16 billion dollars.

It is also expected that in the long term, military spending in Asia and the Middle East will increase.

Military budgets in Western European countries experienced an upward trend for the third consecutive year in 2018. It is expected that this upward trend will continue in 2019 as well. Based on this outlook, Germany’s defense budget is expected to increase by 11 percent in the coming year.

Source: DW