Russia unveils huge spending hike to battle 'hybrid war'
Thursday, 28 September 2023 Russia said Thursday that it plans to raise defence spending by almost 70 percent next year, funnelling massive resources into its Ukraine offensive to fight what it calls a "hybrid war" unleashed by the West. According to a finance ministry document published Thursday, defence spending is set to jump by over 68 percent year-on-year to almost 10.8 trillion rubles ($111.15 billion) -- more than spending allocated for social policy.
Russia plans a huge hike in defence spending next year, swelling to 6% of GDP, up from 3.9% in 2023 and 2.7% in 2021, Bloomberg News reported on Friday. Moscow... IndiaTimes
Thursday, 28 September 2023
