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Russia to spend $600 billion on defence and security by 2025 - source

Economy Sep 23, 2022 16:55
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© Reuters. FILE PHOTO: Service members of the Russian airborne forces line up before boarding Ilyushin Il-76 transport planes during drills at a military aerodrome in the Azov Sea port of Taganrog, Russia April 22, 2021. Picture taken with a drone. REUTERS/Stringer

LONDON (Reuters) - Russia is planning to spend a total of 34 trillion roubles ($600 billion) on national defence, security and law enforcement between 2022 and 2025 under its latest expenditure plan, a source familiar with finance ministry calculations told Reuters on Friday.

Russia is engaged in a costly military campaign in neighbouring Ukraine, for which it has this week announced the mobilisation of another 300,000 troops.

According to the latest figures, Russia will spend a total of 18.5 trillion roubles in 2022-2025 on national defence, of which 4.7 trillion will be spent this year.

Previously, Moscow had planned to spend 3.5 trillion roubles on national defence this year out of a total 10.9 trillion over the period 2022-2024.

This year's projected security and law enforcement spending remains unchanged at 2.8 trillion roubles. The 15.6 trillion roubles expected to be spent between 2022 and 2025 compare with a previous allocation of 8.7 trillion for the period 2022-24.

The source did not provide a further breakdown or other details. The finance ministry declined to comment. ($1 = 56.2500 roubles)

Russia to spend $600 billion on defence and security by 2025 - source
 

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