A document published on Russia's official legal website on Sunday (Dec 1) shows that President Vladimir Putin has approved the budget for military priorities for the years 2025-2027.
Reuters reports that the national budget for next year includes a 25 percent increase in military spending. It is the most secretive budget in the post-Soviet era, with nearly a third of its spending not disclosed to the public.
The government acknowledges that supporting the Russian-Ukrainian war and the army will remain a budgetary priority, followed by social welfare and technological development.
The government classified the draft budget as "balanced," with the deficit falling to 0.5 percent from a projected 1.7 percent this year and the national debt remaining below 20 percent for the next three years.
When the scale of the US public debt surpassed the 38 trillion US dollar mark, nearly doubling from the early days of the pandemic in 2020, international agencies such as Moody's and Scope Ratings successively downgraded its sovereign credit rating outlook.
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