The bloc’s total defense spending in 2024 exceeds China’s by about one-and-a-half times, and is more than three times as high as Russia’s military budget. Only the United States has higher military expenditures. The figure represented 1.9% of the bloc’s GDP, and a 19% increase over the previous year.
The European Union collectively spent €343 billion ($402 billion) on defense last year, exceeding projections and setting a new record, according to a new report by the European Defense Agency.
Yehaw.