Friday , September 29 2023

Exclusive-Russia doubles 2023 defence spending plan as war costs soar-document

LONDON (Reuters) – Russia has doubled its 2023 defence spending target to more than $100 billion – a third of all public expenditure – a government document reviewed by Reuters showed, as the costs of the war in Ukraine spiral and place growing strain on Moscow’s finances.

The figures shed light on Russia’s spending on the conflict at a time when sector-specific budget expenditure data is no longer published.

They show that in the first half of 2023 alone, Russia spent 12%, or 600 billion roubles, more on defence than the 4.98 trillion roubles ($54 billion) it had originally targeted for…

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