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Russia Diverts Billions to Defense, Halving Social Spending

Eriki Joan UgunushebyEriki Joan Ugunushe
October 31, 2024
in Government
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Russia Diverts Billions to Defense, Halving Social Spending
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Russia’s government is planning a massive budget shift, aiming to redirect an eye-watering 7 trillion roubles ($72 billion) over the next three years, with most of this hefty sum funneling straight into the military. Finance Minister Anton Siluanov unveiled the draft on Thursday, and it’s clear where Russia’s priorities lie. For 2025, a staggering 13.5 trillion roubles are earmarked for defense – around a third of all government spending and 6.3% of the country’s GDP. That’s the highest proportion since the Cold War.

What’s raising questions even more is that defense spending will now double what the government is willing to spend on social programs for citizens. During a cabinet meeting, Siluanov explained that about 900 amendments to the budget have been introduced, with a “significant portion” intended to boost “defense and security,” including ongoing efforts in Ukraine, or as the Kremlin terms it, the “special military operation.”

This budget draft, already cleared in its first parliamentary reading, gives the government flexibility to juggle funds across its total 41.5 trillion-rouble expenditure plan before the second review. While Moscow might see this as shoring up national security, the decision to place guns over social welfare speaks volumes about the Kremlin’s priorities: when it comes to spending, the military wins by a landslide.

Tags: Defensefederal characterForeign NewsHalving Social SpendingNewsRussiaRussia Diverts Billions to Defense
Eriki Joan Ugunushe

Eriki Joan Ugunushe

Eriki Joan Ugunushe is a dedicated news writer and an aspiring entertainment and media lawyer. Graduated from the University of Ibadan, she combines her legal acumen with a passion for writing to craft compelling news stories.Eriki's commitment to effective communication shines through her participation in the Jobberman soft skills training, where she honed her abilities to overcome communication barriers, embrace the email culture, and provide and receive constructive feedback. She has also nurtured her creativity skills, understanding how creativity fosters critical thinking—a valuable asset in both writing and law.

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