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Wall Street Journal: Global Military Spending Set to Fall in 2015
Research Predicts Defense Spending Will Resume Decline After Growth in 2014
LONDON—Global military spending could fall again this year after an uptick in 2014, as tepid growth forecasts and low oil prices prompt countries to curtail defense budgets, a leading British research organization said Wednesday.
Spending on defense rose 1.7% last year in real terms after three years of decline, the International Institute for Strategic Studies said Wednesday in London. More money spent by Russia, China and Saudi Arabia helped offset declines in other regions, Giri Rajendran, the think tank’s defense economist said.
Update: Chart: U.S. defense spending still dwarfs the rest of the world (Washington Post)
WNU Editor: Global military spending may be set to fall .... but it is rising in Asia and the Middle East .... Military Spending Rises in Asia, Middle East (Voice of America).
The IISS report is here.
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