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Russia raises 2027 military spending by 27%, budget documents show
The draft budget would lift defense outlays to 17.1 trillion rubles and push total military spending to 50 trillion rubles over three years, Reuters reported.
- Russia plans to spend 17.1 trillion rubles on defense in 2027, around 27% more than the originally budgeted 13.5 trillion rubles and the highest figure since the war in Ukraine began in 2022.
- Total national defense spending over the next three years will reach 50 trillion rubles, according to Reuters, reflecting sustained military funding focus amid fiscal pressures.
- The government expects to submit the draft Budget by Oct. 1, with the 2026 Budget deficit forecast raised to 3.2% of GDP from 1.6% of GDP previously.
- To finance the growing deficit, Russia plans new tax hikes in 2027, including a windfall tax on metals and mining companies expected to raise about 200 billion rubles annually.
- State debt is set to rise to 21.7% of GDP in 2027, exceeding the 20% level authorities view as safe, while Total borrowing will increase by 43% to 7.7 trillion rubles.
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Russia is preparing for a scenario that no one expected. Its defense budget plans and record military spending reveal that Vladimir Putin plans to continue the war for several more years, according to the Bloomberg news service.
The government expects a deficit of 65 billion dollars and aims to increase taxes and tariffs to finance public spending. Moscow will also resort to debt, while decreasing revenues from oil and gas.
·Rome, Italy
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The cost of war against Ukraine continues to rise, as the new Russian budget shows. Now President Vladimir Putin wants to increase taxes.
·Düsseldorf, Germany
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Coverage Details
Total News Sources160
Leaning Left21Leaning Right18Center25Last UpdatedBias Distribution39% Center
Bias Distribution
- 39% of the sources are Center
39% Center
L 33%
C 39%
R 28%
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