Iran s defense budget is projected to reach USD 16.7 billion in 2024, marking a 20% increase from the previous year and accounting for 25% of the national budget. This rise in military spending occurs amidst economic struggles, including soaring inflation and declining purchasing power. Iran s defense priorities are influenced by regional dynamics, such as the Israeli war on Gaza and Lebanon, and rivalry with countries like Saudi Arabia. Israel s military budget has grown by 24% in 2023, driven by its campaigns in Gaza and Lebanon. Saudi Arabia remains the largest military spender in West Asia, leveraging its oil wealth. Iran faces challenges in keeping up with expenditure due to economic sanctions and inflation. The US–Iran confrontation and the US military presence in the region also contribute to Iran s military buildup. A significant portion of Iran s defense budget is allocated to the Islamic Revolutionary Guard Corps (IRGC), which controls a vast network of businesses and industries. The IRGC s economic activities generate additional unreported revenues, making it difficult to assess the full scale of Iran s military funding. This situation reflects a global trend of rising military expenditures, particularly in regions experiencing escalating conflicts. Countries are diverting significant resources to the military at the expense of social spending, revealing a global prioritization of military security in an increasingly volatile world. The surge in military spending across West Asia, Europe, and East Asia reflects a world heading toward greater instability, driven by the failure of the UN and its institutions to provide peace, diplomacy, and conflict prevention. States are prioritizing military strength but risk an action–reaction spiral in the increasingly volatile geopolitical and security landscape.
Source: globalvoices.orgPublished on 2024-10-03
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