Inter Press Service reports that after declining in the post-cold war era of the early 1990s, global military spending is on the rise again – threatening to break the one trillion dollar barrier this year, according to a group of UN-appointed military experts.
The 16-member group estimates that military spending will rise to nearly 950 billion US dollar by the end of 2004, up from 900 billion in 2003 according to the World Bank press review Thursday.
By contrast, rich nations spend 50 billion to 60 billion US dollar on development aid each year.
The 2004 estimates would be “substantially higher if the costs of the major armed conflicts in Afghanistan and Iraq were included”, the experts say in a 30-page report.
The report, titled The relationship Between Disarmament and Development in the Current International Context, will go before the 59th session of the UN General Assembly beginning mid-September.
Kilde: www.worldbank.org
