Russia Boosts Defense Spending 27% to Record High by 2027

Russia plans to raise defense spending to 17.1 trillion rubles (~$203B) by 2027, a 27% increase over previous budget plans and the highest since the 2022 invasion of Ukraine, per government documents obtained by Reuters. The increase signals sustained military buildup despite economic strain, indicating long-term commitment to the war effort. Uncertainty remains over fiscal sustainability and potential inflationary pressures.