Domestic
21:52 15 May 2024
Post by: WBJ

Russia's Defense Spending to Surge to 8.7% of GDP

Russia's Defense Spending to Surge to 8.7% of GDP
Source: Shutterstock

Russian President Vladimir Putin announced a significant increase in defense and security spending, potentially reaching 8.7% of the gross domestic product (GDP) this year. Putin emphasized the importance of using these funds effectively during discussions with top military officials, including Minister of Defense Andrei Belousov and Secretary of the Security Council Sergei Shoigu. He underscored the need for strategic resource management, stating that while not as high as in the Soviet era, the allocated budget remains substantial. Putin reaffirmed the importance of balancing military spending with overall state development strategies. Despite projections, last year's defense expenses soared to 3.9% of GDP, indicating a notable surge from previous years.


More News

lifestyle

LifeStyle
6 days ago

New exhibition at Plac Europejski

LifeStyle
1 month ago

British Scientists Say that the Feeling of Happiness Can Be Learned

LifeStyle
3 months ago

'We work hard, we achieved what we have on our own, we are strong women, and we have our voice': Joanna Krupa

LifeStyle
4 months ago

Magdalena Lamparska: 'Viewers have come to enjoy watching movies at home'

Book of Lists

Book of Lists
3 years ago

The largest Polish companies under the Book of Lists microscope! Book of Lists 2020/2021 certificates have been awarded.

Book of Lists
4 years ago

25th jubilee edition of Book of Lists – project start