President Putin signs Russia's record defense budget

(CLO) Russian President Vladimir Putin has signed a budget plan to increase defense spending to a record high by 2025, as Russia continues to fight fiercely with Ukraine.

According to the budget published on the Russian government's website on Sunday, about 32.5% of the budget will be spent on defense, equivalent to 13.5 trillion rubles (more than $145 billion), up from 28.3% this year. The plan was approved by both houses of the Russian parliament in the past 10 days.

Photo: TASS

According to the new budget law, Russia's federal budget revenues are expected to be 40.296 trillion rubles ($378.5 billion) in 2025, 41.84 trillion rubles ($393 billion) in 2026, and 43.154 trillion rubles ($405.34 billion) in 2027.

Spending is expected to be 41.469 trillion rubles ($389.52 billion) in 2025, 44.022 trillion rubles ($413.5 billion) in 2026, and 45.915 trillion rubles ($431.3 billion) in 2027.

As a result, the federal budget deficit will be 1.173 trillion rubles ($11.02 billion) in 2025, 2.181 trillion rubles ($20.5 billion) in 2026 and 2.761 trillion rubles ($25.9 billion) in 2027.

The document also indicates projected GDP figures. In 2025, it is expected to be 214,575 trillion rubles ($2.01 trillion) with an increase of 2.5%, in 2026 - 230,568 trillion rubles ($2.16 trillion) with an increase of 2.6%, in 2027 - 248,313 trillion rubles ($2.33 trillion) with an increase of 2.8%. The inflation rate in 2025 is expected to be 4.5%, in 2026 and 2027 - 4%.

The Russia-Ukraine war, which began in February 2022, is considered the largest conflict in Europe since World War II, and has left both sides with depleted resources. Despite billions of dollars in support from Western allies, Russia has a larger and better-equipped force, giving it a significant advantage on the battlefield.

The war is still raging on many fronts. On Sunday night, Russia deployed 78 drones into Ukraine, of which Ukrainian air defenses shot down 32 and electronically jammed 45 others, causing them to lose control.

Ukraine is also attacking Russian territory. The Russian Defense Ministry said it shot down 29 Ukrainian drones overnight in four western regions of the country: 20 in Bryansk, seven in Kaluga, and one each in Smolensk and Kursk.

Cao Phong (according to TASS, AP)

Source: https://www.congluan.vn/tong-thong-putin-ky-phe-duyet-ngan-sach-quoc-phong-ky-luc-cua-nga-post323759.html