Military Budget - Military Budget

A military budget (or military expenditure), also known as a defense budget, is the amount of financial resources dedicated by a nation to raising and maintaining an armed forces or other methods essential for defense purposes.

Military budgets often reflect how strongly an entity perceives the likelihood of threats against it, or the amount of aggression it wishes to employ. It also gives an idea of how much financing should be provided for the upcoming year. The size of a budget also reflects the entity's ability to fund military activities. Factors include the size of that entity's economy, other financial demands on that entity, and the willingness of that entity's government or people to fund such military activity. Generally excluded from military expenditures is spending on internal law enforcement and disabled veteran rehabilitation. The effects of military expenditure on a nation's economy and society, and what determines military expenditure, are notable issues in political science and economics. There are controversial findings and theories regarding these topics. Generally, some suggest military expenditure is a boost to local economies. Still, others maintain military expenditure is a drag o n development.

Every year in April is the Global Day of Action on Military Spending (GDAMS), which aims to gather people and create a global movement that persuades governments to reallocate their military spending to essential human needs such as food, education, health care, social services and environmental concerns.

Among the countries maintaining some of the world's largest military budgets, China, France, Germany, Japan, Russia, the United Kingdom and the United States are frequently recognized to be great powers.

According to the Stockholm International Peace Research Institute, in 2014, total world military expenditure amounted to 1.8 trillion US$.

Historic expenditure

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:

• United States: 17%
• Russian Empire: 21%
• France: 27%
• British Empire: 39%
• German Empire: 43%
• Empire of Japan: 55%

Projected expenditure

A 2014 academic report from the United Kingdom's Ministry of Defence outlines projected defence expenditure of major powers for the year 2045.