Skip to content
Edit post

ISW: Putin signs Russia’s largest national budget

by Olena Goncharova November 29, 2023 6:40 AM 1 min read
A pool photograph distributed by Russian state agency Sputnik shows Putin in Moscow on Nov. 14, 2023. (Gavriil GRIGOROV / POOL / AFP) 
This audio is created with AI assistance

Support independent journalism in Ukraine. Join us in this fight.

Become a member Support us just once

Russian dictator Vladimir Putin signed a 2024 federal budget and planned budgets for the two following years on Nov. 27, reportedly devoting a record amount to defense.

The 2024 federal budget accounts for 36.66 trillion rubles ($412.5 billion) in state expenses and a budget deficit of 1.6 trillion rubles ($9.5 billion), the Institute for the Study of War (ISW) said in its latest update.

Following approval of the budget by the lower house of parliament, Speaker Vyacheslav Volodin said that it was specifically designed to allocate funds for the military and address the consequences of international sanctions imposed when Russia deployed troops into Ukraine in February 2022.

The federal budget does not account for the entirety of Russian defense spending, the ISW said, as the Kremlin has relied on regional budgets and private business entities to augment funding for the ongoing war effort.

A portion of the Russian budget remains undisclosed, as Moscow aims to keep its military intentions hidden and evade scrutiny around its activities in Ukraine.

Independent business journalists Farida Rustamova and Maksim Tovkaylo said earlier this month that approximately 39% of the total federal spending in 2024 (14 trillion rubles or $157.5 billion) will be allocated to defense and law enforcement.

Russian submarines lurk in Black Sea despite inclement weather
Two Russian submarines capable of launching Kalibr cruise missiles remain in combat mode in the Black Sea, defense officials reported on Nov. 28.

News Feed

Ukraine Daily
News from Ukraine in your inbox
Ukraine news
Please, enter correct email address
5:06 PM  (Updated: )

Germany to halve Ukraine military aid, Reuters reports.

The move comes amid increasing concern that a Donald Trump victory in the upcoming U.S. presidential election will see a dramatic cut in Washington's support for Ukraine's fight against Russian aggression.
3:09 PM

95 Ukrainian POWs released from Russian captivity.

Another 95 Ukrainian defenders have been brought back home, including service members of the Armed Forces, the National Guard, and the Border Guard, President Volodymyr Zelensky announced on July 17.
MORE NEWS

Editors' Picks

Enter your email to subscribe
Please, enter correct email address
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Successfuly subscribed
Thank you for signing up for this newsletter. We’ve sent you a confirmation email.