Dhaka, April 22 -- Global military expenditure grew 7.0 per cent to $2.43 trillion in 2023, the steepest annual rise since 2009 as international peace and security deteriorated, a leading think-tank said on Monday,

The Stockholm International Peace Research Institute (SIPRI) said in a statement that the United States, China and Russia were the top spenders in 2023, according to Reuters.

Nan Tian, senior researcher at SIPRI's Military Expenditure and Arms Production Programme, said: "States are prioritising military strength but they risk an action-reaction spiral in the increasingly volatile geopolitical and security landscape."

SIPRI said Russia raised spending by 24 per cent to an estimated $109 billion. Ukraine increased spending by...