Russia Names Defense Spending a Strategic Budget Priority Through 2029
Russia's Finance Ministry projects a federal budget deficit of about 2% of GDP from 2027 to 2029 as defense financing remains a top spending priority.
Russia's government has identified defense financing as a strategic priority in its budget planning, according to a report by the Turkish news agency Anadolu.
The country's Finance Ministry expects the federal budget deficit to stand at around 2% of gross domestic product (GDP) from 2027 to 2029, the report said, though further detail on planned defense allocations, other spending categories or the assumptions behind the deficit projection was not included in the available summary.
Russia has significantly increased military spending since launching its full-scale invasion of Ukraine in February 2022, with defense and security-related expenditures accounting for a growing share of the federal budget in recent years.
Sustained high defense spending alongside a persistent budget deficit reflects the broader fiscal pressures facing Moscow as the war in Ukraine continues, including the impact of Western sanctions on Russia's access to international financial markets and certain technologies.
No additional figures on projected revenue, non-defense spending or economic growth assumptions were provided in the material reviewed.
Sources
- Russia sets defense financing as strategic priority in budget — Anadolu Agency (Turkey)
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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