'Europe's military spending highest since Cold War, US tops the list'

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Europe's military spending surged at a record pace in 2022- led by the UK, Germany and France- with the US continuing to top the list, accounting for nearly 40 percent of global military expenditure.

The surge in Europe's military spending helped global military expenditure reach a new high of $2.24 trillion, or 2.2% of the world's gross domestic product (GDP), according to a study by Stockholm-based International Peace Research Institute (SIPRI).

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