Espreso Global news Russia increases army spending by 282%, spent 40% of annual budget in January-February

Russia increases army spending by 282%, spent 40% of annual budget in January-February

16 May, 2023 Tuesday

15:34

In two months of 2023, Russia spent more than 40% of the planned annual allocations for the army on the war, and its military spending increased by more than 282%

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Reuters reported the information, citing the data from Russia’s treasury.

In the first two months of 2022, Russia spent RUB 525.4 billion on "defense.” But in January of this year alone, it spent about RUB 1.18 trillion on the army, and in February - RUB 822.4 billion.

In total, Russia's military spending in the first months of 2023 exceeded RUB 2 trillion (approximately USD 26 billion). This is more than 40% of the officially planned "defense" spending for the whole of 2023.

Thus, Russia's military spending in January-February this year increased by 282% compared to the same period in 2022.

Journalists publish data only for January-February due to the fact that the Russian Ministry of Finance has not yet disclosed information on military spending for March and April.

The data also showed that Russia's budget deficit from January to April amounted to RUB 3.4 trillion, compared to a surplus of RUB 1.2 trillion in 2022.