Description |
1 online resource (23 pages) |
Series |
SIPRI insights on peace and security ; No. 2023/11 |
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SIPRI insights on peace and security ; No. 2023/11.
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Contents |
I. Introduction. -- II. The process of drafting the 2024 federal budget. -- III. The principal features of the draft budget. -- IV. Revenues in the draft budget: Are they realistic?. -- V. Military spending in the draft budget. -- VI. Conclusions |
Summary |
Russia’s war against Ukraine has been waged for over 650 days and has had a significant impact on the country’s economy and society. In April 2023 work started on a new three-year federal budget, which was signed into law at the end of November. It is based on a relatively optimistic economic forecast and is striking for the sharp increase in military spending planned for 2024. Spending under the budget chapter ‘national defence’ is expected to account for 29 per cent of total budget expenditure. This means that total military expenditure will increase to 7.1 per cent of GDP in 2024. Military spending is not the same as spending on the war: there are additional costs, some shown in the new budget. The budget indicates that the Russian government is firmly committed to pursuing the war to a successful conclusion, accepting that this will put pressure on social and economic spending |
Notes |
"December 2023." |
Bibliography |
Includes bibliographical references |
Notes |
Description based on online resource; title from PDF cover page (SIPRI, viewed December 30, 2023) |
Subject |
Budget -- Russia (Federation)
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Russian Invasion of Ukraine, 2022 -- Costs
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SUBJECT |
Russia (Federation) -- Armed Forces -- Appropriations and expenditures
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Form |
Electronic book
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Author |
Stockholm International Peace Research Institute, publisher.
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