Pakistan's military expenditure continues to face severe inflationary pressure, as data from Janes Defence Budgets shows. (Janes Defence Budgets)
Pakistan Finance Minister Muhammad Ishaq Dar announced in the National Assembly on 9 June that the country's defence budget for 2023–24 will be PKR1.80 trillion (USD6.27 billion).
In his speech, he indicated that the new budget represents a nominal 19.5% increase over the revised allocation for 2022–23, which he said was PKR1.51 trillion.
While this signals a strong rise, gains are offset by severe economic challenges including the falling value of Pakistan's currency and high inflation. Dar said the expected rate of inflation in 2023–24 is 21%.
Full budgetary documents were not available immediately but according to news reports, about PKR705 billion or about 40% of the 2023–24 budget will be allocated for employees-related expenses. Military operating expenses will receive PKR442 billion and physical assets – including some elements of procurement – will receive PKR461 billion.
In terms of the armed forces, the Pakistan Army will receive the majority of the 2023–24 defence budget, as is customary. The army's allocation will reportedly be PKR824.6 billion or about 46% of the expenditure. The Pakistan Air Force and Pakistan Navy will receive PKR368.6 billion and PKR188.2 billion, respectively.
Despite recent economic challenges in Pakistan, the military has continued to modernise mainly through support provided by China, Islamabad's biggest defence supplier. Since January Chinese imports have included two Tughril (Type 054A/P)-class frigates, SH-15 155 mm/52 calibre wheeled self-propelled howitzers, and CH-4 medium-altitude long-endurance (MALE) unmanned aerial vehicles.
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FAQs
Pakistan has announced a 2024–25 defence budget of nearly PKR2. 13 trillion (USD7. 64 billion).
What percentage of Pakistan's budget goes to defence? ›
Pakistan allocates Rs 2,122 billion for defense in 2024-25, 1.7% of GDP, consistent with previous year. Defence spending as % of GDP has decreased since 2020.
What percentage of US GDP is spent on the military? ›
The statistic represents the U.S. defense outlays from 2000 to 2023 with an additional forecast from 2024 to 2034, as a percentage of the gross domestic product. Defense outlays amounted to 746 billion U.S. dollars in 2022, which was about three percent of the U.S. GDP.
How much of India's GDP is spent on defense? ›
The Stockholm International Peace Research Institute calculated India's defense expenditure at 2.4% of GDP in 2023. “By comparison, China, with its much larger economy than India's, spends about 1.7% of its share of GDP on defense,” Professor Manjeet S.
What percentage of GDP does Sweden spend on military spending? ›
Sweden's military expenditure as a share of its gross domestic product (GDP) was around one percent from 2011 to 2019. However, it has increased since, reaching 1.5 percent in 2023. The country's total military expenditure amounted to 78 billion Swedish kronor in 2022.
What is the budget of Pakistan military in US dollars? ›
Pakistan military spending/defense budget for 2022 was $10.34B, a 12.66% decline from 2021. Pakistan military spending/defense budget for 2021 was $11.84B, a 13.72% increase from 2020.
Which country has highest budget for Defence? ›
Who has the highest funded military in the world? ›
The United States has the highest military spending of any nation. Its military spending includes all of the Department of Defense's regular activities, war spending, the nuclear weapon program, international military assistance, and other Pentagon-related spending.
Which country has the highest budget in the world? ›
Download Table Data
| Country | Gross National Expenditure | Data Year |
|---|
| United States | $24.18 Tn | 2021 |
| China | $17.30 Tn | 2021 |
| Japan | $5.03 Tn | 2021 |
| Germany | $3.99 Tn | 2022 |
105 more rowsChina has the largest standing army, with over 2 million active personnel. With increasing defense spending over the last decades, the country also ranks third in the number of tanks and second in the number of aircraft carriers in service.
Military expenditure as share of GDP in Saudi Arabia 2010-2023. As of 2023, the military expenditure share of Saudi Arabia's GDP was about 7.09 percent. According to estimates, Saudi Arabia allocated around 75.8 billion U:S.
How much does Israel spend on defence? ›
In 2024, the government of Israel allocated about 118 billion shekels (about 30.5 billion U.S. dollars) to its military budget. This represented a sharp increase of over 87 percent in comparison to the previous budget.
What is the budget of China in 2024? ›
In 2024, this budget's revenue is projected to be RMB 7.08 trillion ($983.4 billion) and expenditure will be RMB 12.02 trillion ($1.67 trillion), resulting in a deficit of RMB 5 trillion ($686 billion).
What are the 3 top countries in military spending by GDP? ›
In gross terms, the countries with the highest military spending are the United States, China, and Russia. However, these are countries with large populations and GDPs, and smaller countries usually cannot compete alone, regardless of how much they invest.
Which country is responsible for the highest level of military spending in the world? ›
The United States led the ranking of the countries with the highest military spending in 2023, with 916 billion U.S. dollars dedicated to the military. That constituted over 40 percent of the total military spending worldwide that year, which amounted to 2.4 trillion U.S. dollars.
Which European country spends the most on military? ›
The trend of Western and Central European countries increasing their military budgets is largely in reaction to an increase in Russian expenditure, according to the SIPRI. The UK was the largest military spender in Europe in 2023, with arms purchases making up 2.3% of its gross domestic product (GDP).
What percentage of our budget goes to the military? ›
In 2023, defense spending made up 13.3% of the federal budget. Since 1980, the percentage of federal spending for the military has fluctuated between a height of 27.9% in 1987 and lows of 11% in 2020 and 2021.
What is the percentage of Defence budget? ›
As far as the allocation to Ministry of Defence is concerned, I thank the Finance Minister for giving the highest allocation to the tune of Rs 6,21,940.85 Crore, which is 12.9 % of total Budget of GoI for FY 2024-25.
Who spends the most on Defence in the world? ›
The United States has the highest military spending of any nation. Its military spending includes all of the Department of Defense's regular activities, war spending, the nuclear weapon program, international military assistance, and other Pentagon-related spending.
How much percent of GDP Pakistan spend on education? ›
The ministry said keeping in view the education emergency this year, the federal government and provinces overall allocated 1.91pc of the Gross Domestic Product (GDP) for education. However, to fulfil the international commitment of 4pc of the GDP for the sector, an amount of Rs4,242 billion would be required.
