EU defense spending at record high in 2022

KATHMANDU: European Union (EU) member states collectively allocated 240 billion euros (262.4 billion US dollars) for defense spending in 2022, according to data.

This was revealed in a study issued by the European Defense Agency (EDA) on Thursday.

This is the highest amount ever allotted for defense spending.

According to the EDA Defense Data 2022 study, this figure is 6% higher than a year before. Twenty of the EU’s 27 member nations raised their defense budget. The EDA, which was founded in 2004, serves as a focal point for European defense cooperation.