The russian federation council approved the budget for 2024 with record military spending
Kyiv • UNN
The federation council of the russian federation has approved the federal budget for 2024 with a significant increase in defense spending. The budget now awaits President Putin's signature.
The federation council of the russian federation unanimously approved the law on the federal budget for 2024 and the planning period of 2025-2026 at a plenary session. This is reported by the Russian media, UNN reports.
Details
The document provides for record spending on the army. In particular, 29.4% will be allocated for the "national defense" item, which is about 10.8 trillion rubles.
As indicated, this article finances not only the army, but also the military industry, as well as social benefits for combatants.
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It is known that for 2023, military spending was only budgeted at 6.4 trillion rubles, so that in a year, spending has increased by more than one and a half times.
The next step in the adoption of the budget is for russian president vladimir putin to sign the law.
Appendix
Overall, according to the document, federal budget revenues are projected to reach 35.065 trillion rubles in 2024, 33.552 trillion rubles in 2025, and 34.051 trillion rubles in 2026. In contrast, expenditures are expected to reach only 36.66 trillion rubles, 34.382 trillion rubles, and 35.587 trillion rubles, respectively.
At the same time, the federal budget deficit is expected to reach 1.595 trillion rubles in 2024, 0.83 trillion rubles in 2025, and 1.536 trillion rubles in 2026.
Clarification
In a commentary to russian media, finance minister anton siluanov said that the budget will meet the needs of the army, defense and security. At the same time, the budget includes funds for the development of microelectronics, machine tool building, UAVs, aircraft and automotive industries.
Recall
The Financial Times said that russia has added at least 3, 4 trillion rubles ($37 billion), further heightening inflationary risks in an overheated economy and underscoring the rising cost of Russian dictator vladimir putin's war in Ukraine.
