This will be the largest sum since the start of the full-scale war in Ukraine in 2022.
Russia plans to spend approximately $203 billion on defense in 2027, Reuters reports, citing government documents. This is approximately 27% more than initially planned, and the largest sum since the start of the full-scale war in Ukraine in 2022.
Over three years, military spending will amount to approximately $592 billion.
Russia's financial situation is deteriorating. The budget deficit forecast for 2026 has been doubled, from 1.6% to 3.2% of GDP, and oil and gas revenues have been reduced from 8.9 to 7.6 trillion Russian rubles. To close the gap, the government is increasing borrowing by 26% and taking a significant amount of money from the National Welfare Fund (about 11% of its liquid assets).
New taxes have already been announced for 2027, including a super-profit tax on metallurgical and mining companies, which is expected to generate approximately $2.4 billion annually.
Russia's public debt in 2027 will rise to 21.7% of GDP, crossing the 20% threshold that authorities consider safe. Total borrowings in 2027 will increase by 43%, to 7.7 trillion Russian rubles ($91 billion).
Now reading
Half were denied, a third were granted refugee status. August results of reviews of Belarusians' applications for international protection in Poland have become known 2323
Half were denied, a third were granted refugee status. August results of reviews of Belarusians' applications for international protection in Poland have become known 23
"Didn't like the products on the shelf — and they write an SMS there." The Ministry of Internal Affairs called Threads a security threat and announced arrests 5151
Comments