Falcon powers – Israeli military spending increased by 24% on an annual basis in 2023, reaching $27.5 billion, driven by the war waged by Israel on the Gaza Strip and tensions in the north with the Lebanese Hezbollah.
This was revealed in a report on global military spending issued on Monday by the Stockholm International Peace Research Institute (SIPRI), which showed that global military spending reached approximately $2.443 trillion in 2023, an increase of 6.8% compared to 2022.
The report stated, “Israeli military spending, the second-largest in the region after Saudi Arabia, grew by 24% to reach $27.5 billion in 2023.”
It added, “The increase in spending was primarily driven by the large-scale Israeli offensive on Gaza in response to the attack launched by Hamas on southern Israel in October 2023.”
In the Middle East as a whole, military spending increased by 9% to reach $200 billion in 2023, marking the highest annual growth rate witnessed in the region over the past decade.
The significant increase in military spending in the Middle East reflects the rapidly changing situation in the region, ranging from warm diplomatic relations between Israel and Arab countries to the outbreak of war in Gaza, according to the report.
SIPRI monitors developments in military spending worldwide and maintains the most comprehensive and publicly available source of data on military spending at the national level.
Since October 7th, Israel has been waging a devastating war on Gaza, resulting in over 100,000 fatalities and injuries, mostly among children and women, as well as extensive destruction and famine that claimed the lives of children and the elderly, according to Palestinian and international sources.
Israel continues its war despite a UN Security Council resolution calling for an immediate ceasefire, and despite facing charges of “
