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BUDGET CAN BE BACKBONE OF ECONOMY
A 🧵
1. A key component of the US economy is the defense industry.
2. In 2021, defense manufacturing contributed $2.3 trillion to US GDP amounting to 12% of total GDP.
@BrigAshfaqHasan
@nadeemhaque
@FarooqHKhan
@AtifRMian
#DefenseAndEconomy
A 🧵
1. A key component of the US economy is the defense industry.
2. In 2021, defense manufacturing contributed $2.3 trillion to US GDP amounting to 12% of total GDP.
@BrigAshfaqHasan
@nadeemhaque
@FarooqHKhan
@AtifRMian
#DefenseAndEconomy
3. From 2018–22, US arms exports accounted for 40% of the global arms exports.
4. Whereas India remains the leading arms importer in the world from 1993 till 2022.
@INFANTRY28
@AVeteran1956
@MiftahIsmail
@SaleemFarrukh
4. Whereas India remains the leading arms importer in the world from 1993 till 2022.
@INFANTRY28
@AVeteran1956
@MiftahIsmail
@SaleemFarrukh
1. To drive the economy, US stimulates its defense budget, a practice which India is also adopting, under the make in India initiative.
2. According to Fitch, the U.S. Department of Defense (DoD) budget will further increase to $797 billion in FY 2023 from $728 billion in 2022.
2. According to Fitch, the U.S. Department of Defense (DoD) budget will further increase to $797 billion in FY 2023 from $728 billion in 2022.
