Global military spending increased to $1.7 trillion in 2015, with the U.S. being the biggest spender by a wide margin.
A new report from the Stockholm International Peace Research Institute shows that military expenditures across the globe climbed by 1 percent from the previous year, the first such increase since 2011. The growth was driven by spending in Central and Eastern Europe, Asia and Oceania, and some states in the Middle East, according to the study.
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Source Credits: Martin Matishak in The Fiscal Times.