Russian Defense Budget Skyrockets: €105 Billion Proposal Marks a 68% Surge from 2023 Figures.

In a recent revelation by Russian media, documents purportedly leaked from Russia's Finance Ministry indicate a significant increase in defense spending for the year 2024. The proposed budget is set to account for nearly 30% of the nation's total public expenditure.
Follow Army Recognition on Google News at this link

Russian Defense Minister Sergei Shoigu announced that the conflict in Ukraine will continue into 2025. (Picture source Russian MoD)

This news broke as NATO's Secretary-General, Jens Stoltenberg, along with the defense ministers of Britain and France, made a diplomatic visit to Kyiv. During their visit, Ukrainian President Volodymyr Zelensky emphasized the need for more air defense systems to bolster Ukraine's defenses.

The Russian Finance Ministry's proposal outlines a defense budget of approximately €105 billion (10.8 trillion roubles), which equates to roughly 6% of the country's GDP (Gross Domestic Product). This marks a staggering 68% increase from the defense budget of 2023.

Economic analysts suggest that while Russia might be capable of sustaining this elevated defense spending through 2024, it would likely be at the detriment of the broader economy. Although the intricate details of Russia's defense expenditure remain classified, these figures strongly hint at Russia's preparation for prolonged warfare in Ukraine.

This speculation is further supported by comments made by Russian Defense Minister Sergei Shoigu on September 27, 2023. Shoigu indicated readiness for the conflict in Ukraine to extend into 2025, signaling Russia's long-term commitment to the ongoing invasion.

The international community watches closely as tensions escalate, with many concerned about the potential ramifications of Russia's increased military spending and the prolonged conflict in Ukraine.

Defense News October 2023