Russia to increase defence budget by 25 percent
Moscow, October 1 (Hibya) - Russia will increase its defence spending by a record 25 percent amid a further escalation of tensions with the West.
The latest planned spending increase will take Russia’s defence budget to a record 13.5 trillion rubles in 2025, according to draft budget documents published on Monday’s parliament website. That’s about 3 trillion rubles more than the amount allocated for defence this year.
Defence and security spending will account for about 40 percent of Russia’s total government spending.
“This increase is confirmation that the economy is on a war footing, and even if the war in Ukraine ends soon, pouring money into the army and a bloated defence sector will remain a top priority,” Bell, a leading Russian economics publication, said of the budget increase.
According to the draft budget, social spending is expected to fall by 16% from 7.7 trillion rubles this year to 6.5 trillion rubles next year.
Russia’s huge investment in its military has worried European war planners, who say NATO is underestimating Russia’s ability to wage a long-term war. Meanwhile, Ukraine faces uncertainty about the level of future support from its closest allies.
Albania News Agency
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