Russia plans to increase military spending in 2025 – Bloomberg
Russia plans to increase defence spending to US$142 billion, or 6.2% of gross domestic product, in 2025. Source: Bloomberg, with reference to the draft three-year budget of the Russian Federation Quote: "Spending on national defence and domestic security is projected to consume around 40% of Russia's total budget disbursement in 2025 as Putin continues to shift the economy to a war footing with the invasion of Ukraine already deep into its third year.
Russia plans to increase defence spending to US$142 billion, or 6.2% of gross domestic product, in 2025.
Source: Bloomberg, with reference to the draft three-year budget of the Russian Federation
Quote: "Spending on national defence and domestic security is projected to consume around 40% of Russia’s total budget disbursement in 2025 as Putin continues to shift the economy to a war footing with the invasion of Ukraine already deep into its third year.
That’s greater than the combined allocation for education, health care, social policies and the national economy, according to the budget draft that’s likely to be submitted to Russia’s parliament soon."
Details: According to this document, the Russian government intends to increase defence spending to 13.2 trillion roubles (US$142 billion) in 2025 (in 2024, 10.4 trillion roubles (US$112 billion) were planned for this sector).
Bloomberg's calculations are based on the draft budget, and Russia plans to slightly reduce military spending in the next two years: to 5.6% of GDP in 2026 and to 5.1% of GDP in 2027.
Russia's spending on classified or unspecified items is expected to rise to 12.9 trillion roubles (US$132 billion) in 2025 from the initially planned 11.1 trillion roubles (US$120 billion) this year, remaining at around 30% of total budget expenditure.
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