Russian Defence Spending Leaps 40%

FILE PHOTO: A view shows an armoured convoy of pro-Russian troops outside Donetsk

Reuters: With troops in Ukraine, Russia's defence spending leaps 40%

(Reuters) - Russia's defence spending was up nearly 40% in the first four months of the year, according to preliminary data released by the finance ministry on Wednesday, almost three months into Moscow's large-scale military campaign in Ukraine.

Russia spent 1.7 trillion roubles ($26.4 billion) on defence between January and April, almost half the 3.5 trillion roubles, or 2.6% of GDP, budgeted for all of 2022.

The ministry had initially forecast a budget surplus of 1% of GDP, or 1.3 trillion roubles, for 2022, but now expects a deficit of at least 1.6 trillion roubles, allowing for support payouts to counter the effect of an unprecedented barrage of Western economic sanctions.

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Update #1: Russian Defense Spending Surges to $300M Per Day Amid Ukraine War (Moscow Times)

Update #2: Russia's Spending $15.5 Million an Hour on Ukraine War (Newsweek)

WNU Editor: What has helped defer the costs of this war in Russia are rising energy exports and profits .... Soaring oil and gas prices help Russia more than triple its current account surplus to $96 billion, its largest in 28 years (Business Insider).