Putin Signs Russia's National Budget For Next Three Years, Bolstering Military Spending

Russian President Vladimir Putin on November 27 signed a national budget for the next three years that increases spending by around 25 percent. The budget foresees spending in 2024 of 36.6 trillion rubles ($415 billion) with an expected deficit of 1.595 trillion rubles ($9.5 billion). After the budget was passed by the lower house of parliament, Speaker Vyacheslav Volodin said it was developed specifically to fund the military and to mitigate the impact of international sanctions. Part of the Russian budget is secret as the Kremlin tries to conceal its military plans and sidestep scrutiny of its operations in Ukraine.