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Industry

Russia commits to 18% budget rise

03 April 2014

Russian government data has confirmed that the defence budget will increase by 18.4% in 2014 in line with previously announced plans. The increase means that military expenditure has now increased by 92.3% since 2010 in nominal terms.

Figures released by the Russian Federal Treasury on 25 March show that ambitious spending plans, first announced in 2012, continue to be adhered to despite a marked slowdown in economic growth since that time. Expenditure on National Defence will rise from RUR2,101.4 billion (USD58.2 billion) to RUR2,488.1 billion and will increase from 3.1% of GDP to 3.4%. Current spending plans show that the defence budget will rise by a further 21.7% in 2015 to RUR3,026.9 billion and 11.6% in 2016 to RUR3,378.0 billion.



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