Should UN member states reconsider military spending in light of development needs?

Synopsis
Key Takeaways
- Global military spending is at an all-time high, reaching $2.7 trillion in 2024.
- Only one-fifth of Sustainable Development Goal targets are currently on track.
- Guterres advocates for balancing investments in development and military spending.
- The report warns of a potential military spending surge to $4.7 trillion to $6.6 trillion by 2035.
- Redirecting resources towards development is crucial for sustainable peace.
United Nations, Sep 10 (NationPress) UN Secretary-General Antonio Guterres has called on member states to reassess their military expenditures and prioritize development initiatives.
"The evidence is clear. Excessive military spending does not ensure peace; rather, it often erodes it by escalating arms races, fostering distrust, and redirecting essential resources away from the bedrock of stability," the UN chief emphasized during the unveiling of a new report titled The Security We Need: Rebalancing Military Spending for a Sustainable and Peaceful Future.
Guterres asserted, "A more secure world starts with investing at least as much in combating poverty as we do in engaging in wars."
In 2024, global military expenditures skyrocketed to a staggering $2.7 trillion, nearly 13 times the official development assistance from affluent nations and 750 times the UN's regular budget for the year.
He cautioned that only one-fifth of the Sustainable Development Goal targets are currently on track, with the financing gap widening and the costs of inaction escalating, as reported by the Xinhua news agency.
The report serves as a clarion call to reevaluate priorities and shift global investments towards the security that is genuinely needed, according to Guterres.
If current trends continue, global military spending is anticipated to soar to between $4.7 trillion and $6.6 trillion by 2035. This substantial allocation of resources towards militarization represents a grave threat to humanity's future, jeopardizing sustainable peace and development, the report asserts.