The report said Russian military expenditure was $ 66.3 billion in 2017, 20 percent less than in 2016, the first decline since 1998.

According to the Stockholm Institute, "Military modernization remains a priority for Russia, but the military budget has been constrained by the economic problems that the country has suffered since 2014."

The total military spending of the 29 NATO countries was $ 900 billion in 2017, representing 52% of global arms spending.

The Stockholm Institute pointed out that world military expenditure is estimated to have reached $1739 billion in 2017, the highest level since the end of the cold war, equivalent to 2.2 per cent of global gross domestic product (GDP) or $230 per person. Total global expenditure in 2017 was marginally higher compared with 2016, up by 1.1 per cent in real terms.

As usual, the United States remained the world’s largest spender with $ 610 billion in 2017, with experts predicting that its spending will rise significantly next year to boost the number of military personnel and modernize its conventional and nuclear arsenal.

China, the world’s second largest spender, allocated an estimated $228 billion to its military in 2017.

Military expenditure in the Middle East rose by 6.2% in 2017, Saudi Arabia became the third largest spender in 2017 following a 9.2 per cent increase in military expenditure to $69.4 billion, displacing Russia from third place in the world.

Saudi Arabia has been leading an aggressive coalition against Yemen for nearly four years and has bought several arms deals from several countries, but has done little except crimes and destruction.