Russia submits three-year budget draft: record military spending increase, social welfare cuts
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Multiple news outlets report that Russia has submitted a new three-year budget to the State Duma that sharply increases military spending while cutting social programs. According to Reuters, exclusive budget documents show Russia has raised its 2027 military spending by 27%. Bloomberg reports that Russia plans three years of record war spending under the new budget. The Moscow Times notes that the 2026 deficit is set to reach $88 billion. The New York Times reports that Russia will sharply increase war spending and cut social programs. The Times of London reports that President Putin is counting the cost of a war without an end. These reports collectively indicate a significant shift in Russian fiscal priorities towards military expenditure, with projected deficits and cuts to social spending.
Source report
Multiple news outlets report that Russia is planning a significant increase in military expenditure over the next three years, accompanied by cuts to social programs.
Key Developments
- The New York Times reports that Russia will sharply increase war spending while reducing funding for social programs.
- Reuters, citing exclusive budget documents, reveals that Russia has raised its 2026 military spending by 27%.
- Bloomberg notes that Russia plans three consecutive years of record war spending under its new budget.
- The Moscow Times reports that the government has submitted a three-year budget to the State Duma, with the 2026 deficit projected to reach $88 billion.
- The Times examines the financial toll of the ongoing war, noting that President Putin is "counting the cost of a war without an end."
Sources
- The New York Times
- Reuters
- Bloomberg
- The Moscow Times
- The Times
Source
Top stories - Google NewsWestern
Part of this Story
Russia raises 2027 military spending by 27% to $202.6 billion, budget documents show