Reuters: russia has spent more than 5 trillion rubles on the war in the first six months – more than it planned to spend for the entire year
This spending, amid falling export revenues, has already led to a $28 billion budget deficit
In the first six months of 2023, russia spent 5.59 trillion rubles ($58.9 billion) on the war.
Source. Reuters writes about this with reference to a government document that was at the disposal of the editorial board. This is 600 billion rubles more than was planned to be spent for the entire year.
According to the agency, the military budget for 2023 in russia almost doubled and reached 9.7 trillion rubles (more than $100 billion), which is one third of all government spending.
Last year, the share of defense spending in the russian budget reached a maximum of 23%.
Reuters notes that the increase in military spending is contributing to the moderate recovery of the russian economy by boosting industrial production.
On the other hand, these expenditures, against the backdrop of falling export revenues, have already led to a budget deficit of $28 billion.
Background. In June last year, against the backdrop of the war with Ukraine, the russian Ministry of Finance classified the items of revenue and expenditure of the russian budget.
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