this post was submitted on 28 Sep 2023
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Russia to hike defense spending by almost 70% in 2024, totaling around 6% of GDP โ€” more than spending allocated for social policy (www.themoscowtimes.com)
submitted 1 year ago by 0x815@feddit.de to c/europe@feddit.de
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The increased defense spending comes as Russia's Central Bank warns economic growth is set to slow down in the second half of 2023, with inflation above the bank's target of 4%. Vladimir Putin and other officials have largely shrugged off the economic effects of the Ukraine offensive, arguing Russia has largely weathered the storm of Western sanctions.

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[โ€“] zephyreks@lemmy.ca 1 points 1 year ago

Isn't the ruble pegged to the gold standard now?