2023/06/30 - 15:26 • Latest news Ukraine

Referring to the Stockholm International Peace Research Institute’s report, the British Defense Ministry says Russia’s military budget 2023 has risen to about $85.8 bn or 4.4% of the country’s GDP. However, “true military expenditure remains uncertain due to a lack of transparency,” the ministry notes.

The ministry tweeted:

• “In a June 2023 report, the Stockholm International Peace Research Institute (SIPRI) assessed that Russia’s military spending budget for 2023 is around 6.6 trillion rubles (USD $85.8bn). This equates to about 4.4 per cent of Russian GDP compared with 3.6 per cent in 2021, before the invasion of Ukraine.”
• “In addition, Russia almost certainly faces extra direct budgetary defence costs due to the war, including security expenses in the occupied regions and defensive measures in regions bordering Ukraine.”
• “Although only part of the defence budget is spent on the war in Ukraine, the increase in spending highlights the cost of Russia’s activity in Ukraine.”
• “Russia’s true military expenditure remains uncertain due to a lack of transparency, including the use of classified budget lines, which account for approximately 22 per cent of the Russian Government’s total budget.”

Read also:

• Russian military spending hits 4.1% of GDP in 2022, strains government finances – British intel
• Russia’s shift towards mandating sacrifices in war effort echoes Soviet-style compulsion – UK intel
• Kremlin reportedly spent USD 38.7 billion in 2023 likely to fund its war effort – ISW
• Russia to spend about ⅓ of its 2023 budget on defense cutting funds for schools, hospitals, roads – Reuters analysis

Tags: Russian economy, Russian military spending / budget