Russia boosts Ukraine war budget by $28B
Russia faces a significant challenge in funding the war in Ukraine, as its budget allocated for the conflict has exceeded by approximately $28 billion this year. Spending is expected to increase to the equivalent of 4 trillion rubles in a negative scenario. Despite higher energy prices, revenues have not been sufficient to cover costs, leading to an increased budget deficit and government requests to reduce spending outside of defense and security sectors. Moscow is working on adjusting the budget to face ongoing economic pressures, amid warnings of deteriorating economic growth and rising inflationary pressures resulting from continued military spending.
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