CURRENT AFFAIRS

2023

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Which country announced a 7.2% hike in defence spending to $225 billion in 2023?
A
India
B
China
C
Nepal
D
Sri Lanka
Explanation: 

Detailed explanation-1: -Beijing announces a lower than expected GDP target of “around 5%” for 2023. China’s government on Sunday announced a hike in defence spending by 7.2% to $225 billion in 2023, saying the rise was needed to deal with “complex security challenges”.

Detailed explanation-2: -Military spending is a significant part of many countries’ budgets and differs from nation to nation. The United States has the largest military budget, spending $876.9 billion. The next largest military spender is China, which spends $292 billion.

Detailed explanation-3: -Its commitment of 3.45% of GDP is one of the largest in the advanced world, exceeded only by Israel (4.5%) and by both Russia (4.06%) and the Ukraine (33.5%). The new appreciation of the threat from Russia has led to an increase in military spending in Western Europe (3% after inflation).

There is 1 question to complete.