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Russia will allocate almost a third of total budget spending in 2024 to defense, Kremlin draft plans show, as Moscow decides to divert more resources to its war in Ukraine.
It also plans to increase state borrowing to help finance its "special military operation" in Ukraine in the coming years, and is counting on a recovery of oil and gas revenues to pre-invasion levels to do so.
Spending under the "national defense" section of Russia's budget will reach 10.78 trillion rubles (£89.4 billion) next year, according to finance ministry budget documents outlining the government's fiscal plans for 2024-2026.
In 2021, the year before Moscow began its invasion of Ukraine, defense spending accounted for 14.4% of total spending, while the following year it rose to 17.7%.
Russian Finance Minister Anton Siluanov said last week: " The structure of the budget shows that the main emphasis is on ensuring our victory - the army, the defense capability, the armed forces, the fighters - everything that is needed for the front, everything that is needed for victory is in budget ."
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