(VOVWORLD) - UN Secretary-General Antonio Guterres has called on countries to reassess their rising military spending and invest more in peace and in people’s futures.
 People in Gaza wait for relief food (Photo: Xinhua/VNA) |
“The world is spending far more on waging war than in building peace,” UN Secretary-General Antonio Guterres said on Tuesday at a press briefing for his new report on the threat posed by the steady rise in military expenditure.
Spending on security needs increased across all five global regions during 2024, marking the steepest year-on-year rise for at least the last three decades. Compared to the 2.7 trillion USD directed to military budgets, the world could eliminate extreme poverty for just under 300 billion USD.
The alarming amount spent on arms-related costs equates to almost 13 times the development assistance provided by the OECD’s development assistance committee in 2024, indicating a stark trade-off between military expenditure and sustainable development.
While more is being spent on military, less is being spent for social investment, poverty reduction, education, health, environmental protection and infrastructure – hindering progress on nearly all the SDGs and undermining the UN Charter, the UN’s cornerstone document.
To end global hunger by 2030, the international community would need 93 billion USD annually, just 4% of the total global military expenditure in 2024.