Russia plans to boost military spending to $202B by 2027
Russia has increased its military spending target for 2027 to $202 billion, more than 25% above previous plans, amid the escalation of the war in Ukraine. Military expenditure accounts for about 35% of the total government spending of 48.8 trillion rubles, the highest proportion since the outbreak of the conflict. It is expected that the increased spending will raise the budget deficit to 2.2% of GDP, relying on tax increases on households and companies to cover the gap.
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