Russia raises 2027 defence spending by 27% to 17.1 trillion roubles, documents show
Government documents seen show total defence spending of 50 trillion roubles over the next three years and a 2026 deficit estimate raised to 3.2% of GDP.
5 trillion roubles originally budgeted and the highest figure since the start of the war in Ukraine in 2022, government documents seen showed on Monday. Total defence spending will amount to 50 trillion roubles in the next three years, according to the documents. 1 trillion roubles on defence but the actual amount is classified and will not be disclosed. Some military spending can also be accounted for in other parts of the budget.
6% of GDP previously. 9% of GDP. The government is expected to submit the draft budget to parliament by October 1. Last week, it announced plans for new tax hikes in 2027 to finance the growing deficit.
The documents showed that a new windfall tax on metals and mining companies was expected to raise about 200 billion roubles annually. The documents showed that in 2026 the government will increase its net borrowing plan by 26% to 5 trillion roubles and spend 459 billion roubles — about 11% of the liquid part of its National Wealth Fund — to reduce the deficit. 9 trillion roubles previously. 9% of GDP in 2026, above the 20% level seen by the authorities as safe.
7 trillion roubles. com)