Deputies of the State Duma – the lower house of the parliament – voted to approve Russia’s 2024 budget spending plans, which provide for 68 percent of increase military spending.
Since Moscow sent hundreds of thousands of troops into Ukraine last February, it has already spent tens of billions of dollars on ammunition, missiles, tanks, drones, equipment and military salaries.
Russian President Vladimir Putin has stepped up the offensive as Moscow continues to take the economic and human toll of the 20-month-long invasion.
Total government spending will increase by more than 20 percent next year, according to budget proposals. and will reach 36.66 trillion. rubles (over 370 billion euros).
In 2024, defense spending will make up almost a third of all budget funds – it will increase by 68 percent. and will amount to 10.8 trillion. rubles (over 111 billion euros).
Military spending will make up more than 6 percent. of the country’s gross domestic product (GDP), which will be the largest share of the country’s spending since the collapse of the Soviet Union.
According to Russian Defense Minister Sergei Shoigu, Moscow is using up to 15,000 missiles every day during its offensive in Ukraine. tons of materials, including ammunition and fuel.
Ahead of Thursday’s vote, Finance Minister Anton Siluanov told lawmakers that the proposed budget “is dedicated to today’s main task, which is to ensure our victory.”
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