Russia to raise 2027 defense spending target by 27% to 17.1 trillion rubles, Bloomberg says

According to the budget proposal, war-related expenses would thus account for approximately 35 percent of the Russian state's total spending next year, the highest proportion since the full-scale invasion of Ukraine began in February 2022.

The Russian budget deficit is estimated at 2.2 percent of GDP in 2027, which will be covered by higher taxes on Russian companies.

This year's Russian budget deficit is estimated at 3.2 percent of GDP, which has been financed, among other things, by withdrawals from Russia's pension and welfare funds.