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As of 2023, Algeria had the highest defence spending budget in Africa, around 10 billion U.S. dollars. The country ranked 24th in the world. Egypt and Libya followed, with a budget of roughly 4.4 billion and 3.6 billion U.S. dollars, respectively. Overall, North Africa was the region allocating the largest budget to national defence on the continent. Algeria is followed by Egypt (USD 4.3 billion), Libya (USD 3.5 billion), Nigeria (USD3.4 billion) and South Africa (USD 2.81 billion).
Global defence spending increased by 9% last year to a record USD 2.2 trillion last year, according to the latest assessment by a British military think tank, the International Institute for Strategic Studies (IISS). The organization said that the current situation in several regions of the world has created a highly volatile security environment and it expected budgets to increase further in 2024.
The IISS also mentioned growing unease in the Arctic, North Korea’s pursuit of nuclear weapons, concerns over China, and the rise of military regimes in the Sahel region of Africa.
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The current military-security situation heralds what is likely to be a more dangerous decade, characterized by the brazen application by some of the military power to pursue claims, said the report.
