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2024–2025. The defence budget of India was increased to ₹621,541 crore (US$78 billion) in the 2024-2025 union budget from ₹593,538 crore (US$74 billion) during last year. This year’s defence budget accounts for 1.89% of the country’s projected gross domestic product (GDP) for 2024-25. [15]
Military expenditure of the world from 1950 to 2022 in constant 2021 US$ billions. Defense spending in the UK over time. The Saturday Review magazine in February 1898 outlined the levels of military expenditure as a percentage of tax revenue spent by the then great powers for the year 1897: [8] United States: 17%.
The Iranian government budget for financial year of 2024-2025 was developed in November 2023. It is the first budget on seventh quininal development program with total spending becoming 2462000 billion. [1] Oil budget is reduced %6. The budget is high deficit. [2]
The presidential election was required to be held before the end of his current term on 20 October 2024. In the 2019 election, Joko Widodo was re-elected with Ma'ruf Amin as his running mate. He chose his opponent in the election, Prabowo Subianto, as Minister of Defense after a reconciliation meeting in July 2019.
In 2015, out of its budget of $3.97 trillion, the US spent $637 billion on the military. In 2016, the US spent 3.29% of its GDP on its military (considering only basic Department of Defense budget spending), more than France's 2.26% and less than Saudi Arabia 's 9.85%. [133]
The second list is based on the 2024 edition of The Military Balance, published by the International Institute for Strategic Studies (IISS) using average market exchange rates. [2] Some sources say that Russian and Chinese military spending are actually far higher than the chart due to captive markets and Purchasing Price Parity in those countries.