Russia's Total Budget Spending in 2023 Reaches $351 Billion

Russian Finance Minister Anton Siluanov announced to reporters on Wednesday that the total spending of the Russian federal budget for 2023 will amount to 32.2 trillion rubles ($351.45 billion). This figure is nearly 11% higher, or equivalent to 3.1 trillion rubles, compared to the initially approved total expenditures for this year, which was 29.06 trillion rubles. This increase may reflect a sharp rise in military spending estimates as Russia continues its so-called special military operation in Ukraine. In September, the Russian Ministry of Finance estimated total spending for 2023 at around 30.27 trillion rubles, with spending under the "National Defense" category reaching approximately 6.41 trillion rubles, or 21.2% of the total amount, according to documents outlining the government's financial plans for 2024-2026. Siluanov did not specify how much the defense spending will amount to in 2023, based on the final estimate of total expenditures. Defense spending in the Russian budget is expected to rise to 10.78 trillion rubles next year, or 29.4% of the total planned expenditure of 36.66 trillion rubles, according to documents from the Ministry of Finance.