About past, present and future of Ukraine

Search mobile

Main War The British intelligence has identified sources of funds for increasing Russia's military expenditures

War

The British intelligence has identified sources of funds for increasing Russia's military expenditures

403
The British intelligence has identified sources of funds for increasing Russia's military expenditures

Share this article

The planned target for Russia's revenue in 2024 is unlikely to be achieved, as outlined in the budget plan. The government may have to consider alternative policy measures to finance the planned expenditures.

This information is reported by the Ministry of Defence of the United Kingdom on Twitter.

As summarized, the Russian government has ambitious plans to increase expenditures by 26% in 2024. This is based on optimistic expectations of a 22% increase in revenue, with anticipated growth in oil and gas revenues by almost 25%.

However, according to British intelligence, the Russian government may need to cut its contributions to the National Welfare Fund and increase domestic taxes and debt to fund the planned expenditures.

"These policies will almost certainly have adverse effects on the economy in the medium to long term by maintaining inflationary pressures or constraining future economic growth. The National Wealth Fund is ostensibly for the long-term economic welfare of the Russian people but is increasingly being used to fund its invasion of Ukraine, with the value of its assets falling 10 per cent in 2023," notes the UK Ministry of Defence.

 

odessajournal 0

The Odessa Journal
more articles

Top article

The Ministry of Defense has signed a contract for the construction of a service center for repairing drones in Ukraine
War

The Ministry of Defense has signed a contract ...

Dmytro Kuleba: Ukraine and Croatia have agreed to use Croatian ports for exporting Ukrainian grain
Business

Dmytro Kuleba: Ukraine and Croatia have agree ...

New sanctions: Defence industry, political parties and individuals linked to oligarchs
Business

New sanctions: Defence industry, political pa ...

Volodymyr Zelensky: We are preparing for the next Ramstein meeting, we expect solidly grounded decisions to meet the prospects on the battlefield
War

Volodymyr Zelensky: We are preparing for the ...