11:07, 4 August 2023Source: Reuters

Russia has doubled its target defense spending for 2023 to a third of all planned budget spending, Reuters writes, citing a government document.

According to the agency, in total, Russia spent 14.97 trillion rubles in the first six months of 2023, of which 5.59 trillion rubles were allocated for military needs – more than 37% of all spending for the six months. 

At the same time, 4.98 trillion rubles were included in the defense budget. Thus, in the first six months, Russia spent 600 billion more on the war than it planned to spend for the entire year. 

It also follows from the document that in six months Russia spent 19.2 percent of all planned spending for 2023 on the war.

According to Reuters, the document presented a new estimate of annual military spending of 9.7 trillion rubles, which is a third of the total spending target of 29.05 trillion rubles.

The agency notes that the increase in military spending ensures the recovery of the Russian economy due to the growth of industrial production, but such measures have already led to a budget deficit.

(c)MEDUZA 2023