Putin Signs Aggressive Budget: Russia Boosts Military Spending by 70% Amidst Rising Tensions
Russian President Vladimir Putin signed the national budget on the 27th, which will significantly increase military spending by 70% compared to this year, meaning that Russia will put more financial resources into the war.
According to foreign media reports, Russian President Vladimir Putin signed the national budget for the next three years on the 27th, in which the part of the military spending compared to this year, a substantial increase of nearly 70%, which means that next year will be allocated to the Russian armed forces of the funding will account for the next year's total government expenditure of about 30%, and these do not include under the table of the "secret budget".
The new budget, totaling 36.6 trillion rubles, was approved by the Russian parliament and sent to Vladimir Putin for signing into law, with defense and security accounting for 39% of the overall budget, and the total budget for the fiscal year of 2024 is 25% higher than this year's. This shows that Russia, affected by the delayed war and international sanctions, needs to increase the government budget significantly in order to maintain its social and economic functioning. The budget for 2024 is also 25% higher than this year's budget.
- 34 reads
