Increase in size by 2.7 → 6% compared to GDP
Including confidentiality costs, the national defense budget is 300 trillion won.
Ukraine and Russia attack Black Sea fleet base
Russia’s defense budget next year is expected to increase to approximately 150 trillion won, or 6% of gross domestic product (GDP). In 2021, just before the invasion of Ukraine, it was around 2.7% of GDP. The budget amount has increased by about three times. As Russia’s war costs are snowballing, a prolongation of the war in Ukraine seems inevitable.
According to an analysis of Russia’s draft budget plan obtained by Bloomberg News on the 22nd, next year’s defense budget increased from this year’s 6.5 trillion rubles (about 90.2 trillion won) to 10.8 trillion rubles (about 150 trillion won). The 2021 defense budget was 3.6 trillion rubles. Relative to GDP, it will soar from 2.7% in 2021 and 3.9% this year to 6% next year.
According to the draft, 11.1 trillion rubles (approximately 151 trillion won) will be allocated to confidential or unspecified items in next year’s budget, which is almost double that of this year. It is presumed that most of it will be used for the war in Ukraine, but there is analysis that it was allocated separately from the defense budget to avoid domestic criticism and congressional checks on the prolongation of the war. Considering this, approximately 300 trillion won will actually be invested in next year’s war in Ukraine. The budget plan is confirmed after approval by the Senate and House of Representatives and the signature of President Vladimir Putin.
On the 23rd, Ukraine attacked the Russian Black Sea Fleet headquarters and air force base in the Crimean Peninsula area with missiles for the fourth day. Ukraine’s Defense Ministry claimed that the airstrike killed a senior Russian naval commander and caused dozens of casualties.
Russia countered by repelling the Ukrainian military attack on the southeastern front, including Zaporizhia, resulting in large casualties of Ukrainian troops and destroying many tanks and missile systems.
Mark Jones is a world traveler and journalist for News Rebeat. With a curious mind and a love of adventure, Mark brings a unique perspective to the latest global events and provides in-depth and thought-provoking coverage of the world at large.