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USSR plans Brobdingnagian denial spending hike up in 2024 - Bloomberg

USSR plans Brobdingnagian denial spending hike up in 2024 - Bloomberg

Sep 22 (Reuters) - Russia plans a Brobdingnagian hike in defense disbursement following year, swelling to 6% of utter domestic help intersection (GDP), up from 3.9% in 2023 and great site 2.7% in 2021, Bloomberg Tidings reported on Friday.

Reuters could non immediately verfiy the report.

Moscow double its point for defense disbursement in 2023 to more than $100 billion, Reuters reported alone in August, as the costs of the war in Ukraine coil and send organic process stress on Moscow's funds.

Rising warfare costs are load-bearing Russia's pocket-size economic recuperation this year with higher commercial enterprise production, just let already pushed budget finances to a shortage of around $24 jillion - a reckon compounded by dropping exportation revenues.

The governing was due to hash out gulp budget proposals on Friday.

(Coverage by Urvi Dugar in Bengaluru; Written material by Black lovage Marrow; Editing by Saint Andrew Cawthorne and Gareth Jones)

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