KATHMANDU: U.S. military spending on the ongoing war with Iran has increased to $43.6 billion. According to the latest estimate provided to U.S. lawmakers by U.S. Central Command, U.S. military spending related to the war reached that amount as of Sept. 3.
The economic burden of the war has been steadily increasing since the U.S. and Israel began military action against Iran on Feb. 28. The latest estimates show that U.S. military spending has increased significantly in recent weeks.
Earlier, the US Congressional Budget Office had estimated that $38 billion had been spent on the Iran war as of August 1. The office also said that if the intensity of the war continues, it could cost about $3 billion or more per month.
$28.1 billion spent on weapons alone
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According to the latest data, the largest share of the total expenditure of the US military has been on weapons and missiles. The cost of weapons alone has reached 28.1 billion US dollars.
As of August 1, the previous estimate said that the cost of weapons was $ 21.7 billion. In comparison, the cost of weapons increased by $ 6.4 billion in the previous estimate.
This shows that the US military has been using large quantities of expensive missiles and other military equipment during the war.
Pressure on the missile defense system
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The latest data shows that defensive missiles are one of the most widely used weapons by the US military. The demand for Patriot and THAAD missiles, especially those used to intercept enemy missiles, has increased.
U.S. officials have said the war has also put pressure on U.S. missile stockpiles. In Europe, U.S. and North Atlantic Treaty Organization officials have said the lack of missile defense systems is at a critical juncture.
Saudi Arabia is also depleting stockpiles of such defensive missiles and is seeking more support from regional and Western allies, the report said.
Huge expenses in the conduct of war{
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The one-page report, provided by the US military to lawmakers, includes operating costs for warships, aircraft and military bases being used during the war.
Similarly, the cost of military equipment damaged or destroyed during the war and the cost of treatment of injured soldiers has also been included in the total estimate.
However, the latest estimates do not include the full cost of Iran’s damage to US military bases in the Middle East.
Damage to U.S. military bases in the Middle East
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According to the latest report by the Department of Defense Inspector General, Iran’s missile and drone attacks have damaged or destroyed hundreds of buildings and other structures at several US military bases in the Middle East.
US military installations in Kuwait, Bahrain, Qatar, the United Arab Emirates, Saudi Arabia, Iraq, Oman and Jordan have been damaged, the report said.
The full economic cost of the damage to these structures is not included in the latest war cost estimate of $43.6 billion.
Number of U.S. troops killed and wounded
According to the Department of Defense, 18 US soldiers have been killed and more than 830 wounded during the war.
This shows that the economic cost of war as well as the human toll is significant.
Demand for additional budget
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As the cost of war increases, the U.S. government has had to allocate more money to the military budget and the war.
The US administration has requested Congress for an additional budget package of $95 billion. It is said that it plans to fund the Iran war and other defense priorities.
Meanwhile, the US administration has proposed a military budget of $1.5 trillion for the next year. The US administration has proposed a $5 trillion military budget.
Economic impact of the war outside the U.S.
The impact of the Iran war is not limited to U.S. military spending. The war has also affected oil prices, international markets, and regional trade.
The U.S. Congressional Budget Office (CVA) said disruptions to energy and trade shipments, particularly through the Strait of Hormuz and the Red Sea, could put more pressure on the global economy.
Disruptions in oil and natural gas shipments caused by the war are expected to have an impact on U.S. inflation in the early months of next year, the Office said.
Costs will increase further as the war prolongs
The U.S. Congressional Budget Office estimates that about $3 billion or more could be spent each month if the intensity of the war continues. Therefore, the U.S. economic burden is likely to increase further depending on the duration of the war and the intensity of military action.
The $43.6 billion in spending as of Sept. 3 shows the enormous financial burden on the U.S. government within months of the military conflict that began on Feb. 28.
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