Russia to boost military budget over three years
Russia plans to increase military spending for at least three years, with war expenses expected to reach around 17 trillion rubles in 2027, slightly decreasing to 16.6 trillion rubles in 2028. This growth will rely on revenues from various economic sectors, achieved by increasing taxes and fees, especially on mining and fertilizer industries, through levies on excessive profits and gold mines, as well as selling seized assets. Families will bear part of the costs, with public service fees projected to rise by an average of 11% in 2027. Budget deficits are expected to reach approximately 2% of the gross domestic product.
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