The Russian State Duma approved in October in first reading the draft budget for the period 2024-2026, with defense spending of 10.8 billion rubles (around 110 million euros) as the invasion of Ukraine continues, it was announced the Minister of Economy, Anton Siluanov.
“Next year, state resources are concentrated on achieving the main task – our victory,” Siluanov emphasized before the State Duma. This means that a third of next year’s budget – valued at 350 million euros – will be allocated to the war against Ukraine.
“The resources planned for 2024 were determined jointly with the departments of the security bloc and allow solving the tasks posed within the framework of the Northern Military Region, including the supply of military material, logistics and social support to the military,” he explained. the minister
In 2022, Russia’s defense spending was 4.7 billion rubles (47.5 million euros) in the midst of the invasion of Ukraine. Meanwhile, by 2023 it amounted to 4,980 million (just over 50 million euros), which means that for the coming years the budget will more than double.
With this budget, Russia shows that it is prepared for an eternal war, as stated the Center for European Policy Analysis (CEPA). “Military spending is once again breaking records, although something important has changed: it now depends more on taxes and less on income from oil exports,” he noted.
It has now been 20 months since Russian President Vladimir Putin ordered the invasion of Ukraine, a decision that has been responded to in the form of international sanctions against its economy in order to hit its arms industry and foreign trade, for which he has had to resort to other markets, such as Iran or South Korea so as not to lose steam.
