European Defense Spending at Record High
European defense spending increased to a record €240 billion (us$262 billion) in 2022, a 6 percent increase over the previous year, according to a European Defense Agency report released on November 30. This marks the eighth consecutive year of rising military spending for Europe.
The report shows that 20 of 27 European Union members increased their defense spending. Six EU nations boosted their spending by more than 10 percent. Sweden’s spending rose more than 30 percent as it awaits nato membership.
“Our armed forces must be ready for a much more demanding era,” said EU High Representative Josep Borell.
‘Demanding times’: The ongoing war in Ukraine has prompted many EU countries to build up and unite their militaries as they feel acutely threatened by Russia. The Israel-Hamas war will likely urge Europe to increase its military spending even more.
Adjusting to these new realities first and foremost means investing more on defense. A record €240 billion underpins the commitment of member states to bolster European defense. However, we have key capability gaps and continue to lag behind other global players in spending. This is why it’s not just about spending more on defense, but also about spending better and together.
Prophecy says: Revelation 17 describes a European superpower comprised of 10 nations or groups of nations that will unify in this end time. The Bible says these kings shall “make war” (verse 14). Europe building up and unifying its military is a major factor leading to the fulfillment of this prophecy.
Learn more: Read our Trends article “Why the Trumpet Watches Europe’s Push Toward a Unified Military.”