Russia has decided to increase defense spending by two thirds to face the Ukrainian counteroffensive and is already negotiating with Iran for the supply of long-range missiles, taking advantage of the fact that it will soon expire. the UN resolution prohibiting such operations.
The Russian Ministry of Finance reported today that it will increase military spending by 67.65% for 2024, which will amount to 10.8 trillion rubles. ($111.87 billion).
Meanwhile, the Ukrainian president, Volodymyr Zelensky, received the Secretary General of NATO in kyiv, Jens Stoltenbergwho highlighted that Ukraine is “gaining ground” and is “closer than ever” to the Atlantic Alliance.
Defense spending in 2024 – last year amounted to 6.5 trillion rubles ($66.73 billion)– will be among the highest in the Russian budget, surpassed only by those for social policy, which Finance estimated at 20.7 trillion rubles ($214.02 billion).
“The structure of the budget shows that the main emphasis is on ensuring our victory” in the war in Ukraine, said Finance Minister Antón Siluánov, at the Moscow International Financial Forum.