Russia to hike defense spending by almost 70% in 2024, totaling around 6% of GDP — more than spending allocated for social policy
Russia to hike defense spending by almost 70% in 2024, totaling around 6% of GDP — more than spending allocated for social policy
Russia said Thursday that it plans to raise defense spending by almost 70% next year, funneling massive resources into its Ukraine offensive to fight what it calls a "hybrid war" unleashed by the West.
The increased defense spending comes as Russia's Central Bank warns economic growth is set to slow down in the second half of 2023, with inflation above the bank's target of 4%. Vladimir Putin and other officials have largely shrugged off the economic effects of the Ukraine offensive, arguing Russia has largely weathered the storm of Western sanctions.
You're viewing a single thread.
Corruption bonanza, half their kit gets sold on the black market
Only half? They must have taken some impressive anti-corruption measures to get it down.