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Putin Readies 43% Defense Spending Hike Amid Plan for Longer War

  • Russia envisions bigger military outlays than first budgeted
  • Shifting priorities reflect increasing cost of war in Ukraine
A Russian T-80 battle tank.

A Russian T-80 battle tank.

Photographer: Kirill Kudryavtsev/AFP/Getty Images

President Vladimir Putin is looking to spend far more on the military in the next two years than initially planned as Russia tailors the budget to the needs of a longer and increasingly costly war in Ukraine.

Defense expenditure is now set to exceed next year’s initial budget assumptions by more than 43%, while the related category of national security and law enforcement will go up by over 40%, according to a three-year fiscal plan seen by Bloomberg.