Budget projections for 2025 and 2026 show lower amount

President vladimir putin on Monday signed russia's budget for 2024-2026, marking a significant increase in funding for the defense sector. The budget for next year shows a 66% increase in defense spending, surpassing social spending for the first time due to the ongoing war in Ukraine.

By 2024, 10.4 trillion rubles (about $111 billion) is expected to be allocated to defense, about a third of Russia's entire budget. This amount significantly exceeds the budget allocated for social spending, which is estimated at 7.5 trillion rubles ($84.3 billion). In comparison, the Defense budget for the current year was 6.5 trillion rubles ($66.7 billion), reports Digi24.

Despite the significant increase for next year, budget projections for 2025 and 2026 show lower amounts allocated to the Defense sector, but still above 2023 levels. These projections include 8.6 trillion rubles ($88 billion) and 7.5 trillion rubles ($77.2 billion) respectively.