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Tag Archives: spending

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Ukraine to boost military spending 

The Ukrainian parliament approved on Monday a boost to defense spending amid the ongoing military conflict with Russia.     According to the bill passed by the Rada, the country’s parliament, the government will be authorized to raise an additional 270 billion hryvnias ($7.3 billion) through domestic borrowing.   This will allow an …

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Global nuclear weapons spending calculated

Global nuclear weapon spending saw a significant increase in 2021 according to the latest International Campaign to Abolish Nuclear Weapons (ICAN) report published on Tuesday. In just one year, the nine nuclear-armed nations – US, China, Russia, France, India, Israel, North Korea, Pakistan and the United Kingdom – spent a …

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House Republicans slam ‘woke’ Pentagon spending

The US Department of Defense is splurging too much money on promoting Pride Month, while neglecting “military preparedness,” a faction of Republican congressmen has charged, in a letter to Secretary of Defense Lloyd Austin. The representatives say they want full accounting of the DOD’s use of taxpayer dollars spent on …

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Germans forced to cut spending – media

Nearly half of German citizens cannot maintain their former lifestyles amid record high inflation, Bloomberg reported on Friday, citing a survey conducted for public broadcaster ARD. Poll data shows that some 47% said they were strongly cutting back on spending. Among low-income Germans, the proportion of citizens who were forced …

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Germany’s defense spending plan revealed

Germany is set to spend €100 billion ($107 billion) to boost its military. Der Spiegel magazine says it has obtained the spending plan and reported on Tuesday that the bulk of the money will go towards strengthening the country’s air force. Chancellor Olaf Scholz proposed the spending spree in February, …

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Global military spending breaks record

The military spending of all nations combined set a new record in 2021, exceeding the $2 trillion mark for the first time ever, the Stockholm International Peace Research Institute (SIPRI) revealed in a report published on Monday. Governments spent a total of $2.113 trillion on weapons last year. The top …

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Russia adds billions to emergency spending fund

Russia has increased its reserve fund used for emergency spending by 273.4 billion rubles ($3.52 billion), the government announced on Sunday. “The funds, among other things, will be used to implement measures aimed at ensuring economic stability in the light of external sanctions,” the press service of the Cabinet of …

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Biden signs $768bn military spending bill

US President Joe Biden has signed a massive $768 billion defense package into law, approving an overall increase in military spending while setting aside billions for security initiatives aimed at confronting Moscow and Beijing. Biden signed the 2022 National Defense Authorization Act (NDAA) on Monday, marking a $25 billion increase …

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Elon Musk slams ‘insane’ US government spending

Speaking at Tesla’s new ‘Gigafactory’ in Austin, Texas for the Wall Street Journal’s CEO Council Summit on Monday, Musk criticized a massive infrastructure bill signed into law by President Joe Biden last month, namely its trillion dollar price tag, ranking among the most expensive pieces of legislation passed in US …

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