“The world is spending far more on waging war than in building peace,” was the reaction of United Nations Secretary-General Antonio Guterres to a report showing global military spending in 2024 stood at $2.7 trillion.

He told a media briefing spending on security increased across all five global regions in 2024, marking the steepest year-on-year rise for “at least the last three decades”.

The briefing was in the wake of the release of The security we need: rebalancing military spending for a sustainable and peaceful future, which draws extensively on Stockholm International Peace Research Institute (SIPRI) data.

A UN statement has him saying: “Compared to the $2.7 trillion directed to military budgets, the world could eliminate extreme poverty for just under $300 billion”.

“The amount spent on arms related costs last year alone is 750 times the 2024 UN regular budget. It equates to almost 13 times the development assistance provided by the OECD’s (Organisation for Economic Co-operation and Development’s) development assistance committee in 2024, indicating a stark trade-off between military expenditure and sustainable development.

“Redirecting even a fraction of today’s military spending could close vital gaps – putting children in school, strengthening primary healthcare, expanding clean energy and resilient infrastructure and protecting the most vulnerable,” Guterres said.

Of the report, SIPRI said UN member states voiced concern over the potential impact the global increase in military expenditure could have on investments in sustainable development and peace, requesting Guterres to analyse the impact of the global increase in military expenditure on the achievement of the SDGs (sustainable development goals). The report drew on the expertise of the UN, its members and specialised entities as well as research institutions, civil society organisations and other stakeholders.

The report, according to SIPRI, calls for a fundamental shift in global priorities, emphasising excessive military spending undermines progress towards the UN SDGs.

• A Tell Media report