INSUBCONTINENT EXCLUSIVE:
Russia plans to boost defense spending to 13.2 trillion rubles ($142 billion) in 2025 from 10.4 trillion rubles projected for this year,
historically high figure as the war in Ukraine shows little sign of ending anytime soon
Likewise, defense and national security spending would account for 40% of total government expenditures in 2025, surpassing the combined
allocations for education, healthcare, social policies and the national economy, according to Bloomberg.At the same time, Bloomberg reported
in 2024.In 2026 and 2027, Russia plans to decrease defense spending slightly, to 5.6% and 5.1% of GDP, respectively
However, spending on national defense would still be higher than current levels, and several times higher than pre-war levels.Despite the
war-driven surge in spending, the 2025 budget is expected to have a deficit of 0.5% of GDP, down from 1.7% in 2024, thanks to projected tax
hikes, a progressive wealth tax, and increased non-oil and gas revenues, according to Bloomberg.The draft budget for 2025-2027 is set to be
submitted to lawmakers on Monday.Last week, President Vladimir Putin listed defense spending and the integration of occupied Ukrainian
Russia would need to maintain higher-than-average levels of defense spending for several years to rebuild its armed forces, with some
facing unprecedented challenges
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