Higher defence spending will add to the pressures on the public finances

by Mauricio Hitschfeld, Álvaro Pina and Enes Sunel For several decades the ‘peace dividend’ enabled governments to reduce the share of defence spending in total public expenditure, creating space to help meet demands for additional public expenditure on social protection and health. Growing geopolitical tensions are prompting reassessments of this strategy, with several countries announcing… Read More »Higher defence spending will add to the pressures on the public finances