Russia poised to increase defence spending
Russian BMP-3. (Photo: Rostec)
Russia is set to significantly increase its expenditure on defence and national security according to a draft 2023 to 2025 budget.
The documents published by Russia’s state Duma show that spending on defence will increase by 43% compared to previously published figures.
Planned defence spending will reach 4.7 trillion Rubles ($81.5 billion) in 2023 compared to a previously expected 3.5 trillion Rubles ($60.6 billion).
National security funding, which includes Russia’s police services, is predicted to increase by almost 49% when compared to figures published last year.
Russia is one of the world’s five biggest defence spenders, according to Stockholm International Peace Research Institute (SIPRI).
Before 2021, the country had seen three consecutive years of increased defence expenditure.
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