Official economic reports from the Russian government and international economic organizations

Russia Proposes 25% Increase in Defense Budget to $150 Billion for 2025

Sep 30, 2024, 09:36 AM

Russia's Ministry of Finance has sent a draft budget to the Duma, proposing a significant increase in defense spending. The budget allocates approximately 13.5 trillion rubles ($150 billion) for defense in 2025, marking a 25% increase from the 2024 budget. This amount represents more than 6% of Russia's GDP and is more than twice the allocation for social spending. The increased defense budget is seen as a measure to prop up the economy, which is becoming increasingly overheated. In comparison, Russia's defense budget in 2021 was $66 billion.