Russian Soldier grieves a loss / AP Photo/Evgeniy Maloletka)
by Karen Faulkner, Worthy News Correspondent
(Worthy News) – Nearly three years into Russia’s invasion of Ukraine, Russian President Vladimir Putin has just approved a military budget that surpasses the country’s allocated spending on health care, education, and social policy combined, Euro News reports.
Putin signed off on the 2025-2027 budget after lawmakers in both houses of the Russian parliament, the State Duma and Federation Council approved it toward the end of November, Euro News reports.
Over 137 billion euros, around 32.5% of Russia’s overall budget, has been approved for military spending.
“The state budget for next year includes a 25% hike in military spending but will be the most secretive in post-Soviet history, with almost a third of all spending closed to public scrutiny,” Reuters noted in a report on Russia’s new budget. “The government has presented the draft budget as ‘balanced’, with the deficit falling to 0.5% against this year’s projected deficit of 1.7% and state debt remaining below the 20% mark for the next three years.”
Russia’s record military spending arises as Putin continues his quest for control of Ukraine and as Ukrainian forces fight back with the billions of dollars in weaponry and military assistance provided by the US and European allies.
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