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Russia’s finance ministry, according to a document released on Thursday, revealed that defense spending on Moscow’s “special military operation” in Ukraine, is set to jump by more than 68 percent year-on-year to almost 10.8 trillion rubles ($111.15 billion).
“The focus of economic policy is shifting from an anti-crisis agenda to the promotion of national development goals,” the ministry said in the document.
It added that such a decision included “strengthening the country's defense capacity” and “integrating” Luhansk, Donetsk, Kherson and Zaporizhzhia. The four Ukrainian regions were annexed to the Russian Federation last year following local referendums in the regions, which have not yet fully fallen under Russian control.
The huge hike is more than the spending allocated for social policy in Russia.
“It is obvious that such an increase is necessary, absolutely necessary because we are in a state of hybrid war, we are continuing the special military operation,” Kremlin spokesman Dmitry Peskov said on Thursday.
“I'm referring to the hybrid war that has been unleashed against us,” he added.
According to figures and calculations by AFP, Russia’s defense spending in 2024 is set to total around three times more than education, environmental protection and healthcare spending combined.
Earlier this month, Russia's central bank warned that economic growth was set to slow in the second half of the current year.
This page is the English version of Almasirah Media Network website and it focuses on delivering all leading News and developments in Yemen, the Middle East and the world. In the eara of misinformation imposed by the main stream media in the Middle East and abroad, Almasirah Media Network strives towards promoting knowledge, principle values and justice, among all societies and cultures in the world
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