Russia to hike defence spending by almost 70 per cent in 2024

Defence spending was set to jump by over 68 percent year-on-year to almost 10.8 trillion rubles ($111.15 billion), totalling around 6 percent of GDP – more than spending allocated for social policy, according to the document.

Russia is set to hike defence spending by almost 70 per cent in 2024, a finance ministry document published Thursday showed, as Moscow pours resources into its full-scale offensive in Ukraine. The document said defence spending was set to jump by over 68 per cent year-on-year to almost 10.8 trillion rubles ($111.15 billion), totalling around 6 per cent of GDP – more than spending allocated for social policy.

Russia to hike defence spending by almost 70 per cent in 2024

Defence spending was set to jump by over 68 percent year-on-year to almost 10.8 trillion rubles ($111.15 billion), totalling around 6 percent of GDP – more than spending allocated for social policy, according to the document.

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