Vladimir Putin expects to spend much more than planned on the military in the next two years, Russia adapts the budget to the needs of a longer and more costly war in Ukraine. Writes about it Bloomberg.
Defense spending should exceed next year's initial budget estimates by more than 43%, while spending on national security and law enforcement will rise by more than 40%, according to the financial plan for the next 3 years, which was made available by Bloomberg.
Budget forecasts are shifting as priorities shift in favor of the armed forces: spending on “national defense” is almost 5 trillion rubles ($84 billion), or 3.3% of GDP, second only to state social programs.
In mid-September, the Cabinet of Ministers of Ukraine approved the draft budget for 2023: total spending on security and defense will increase 4 times to 1.136 trillion hryvnia ($30.7 billion). At the same time, it was noted that Russia, according to the adopted budget for 2022-2024, will spend $60 billion for these purposes next year, that is, only twice as much.
