Russia Proposes Record Military Spending Through 2028
The Russian government submitted a budget bill to maintain record military spending through 2028 to fund the ongoing war in Ukraine.
The Federal Government of Russia submitted a budget bill to parliament on Thursday that outlines plans to maintain record military spending for at least three years. The proposal ensures high levels of war expenditures as the conflict in Ukraine enters its fifth year.
Projected spending is set to reach approximately 17 trillion rubles ($205 billion) in 2027, an increase of more than 25% over the previous target. The government expects expenditures to remain elevated through 2028, with a slight projected decline to 16.6 trillion rubles.
To finance these outlays, the government intends to utilize multiple revenue streams. These include windfalls from the mining sector and proceeds generated from the sale of seized assets.
