Russia has increased its military spending by 40% for 2023 – British intelligence
The aggressor country Russia has increased its military spending for 2023 by at least 40%.
The UK Ministry of Defence reported this with reference to British intelligence data.
The report notes that on November 16 this year, the Russian Federation carried out the largest in its history issue of debt obligations in one day. The aggressor managed to raise $13.6 billion.
Thus, Russia is trying to support the increase in military spending, which has increased significantly after the full-scale invasion of Ukraine.
– This is important for Russia, as the issuance of debt is a key mechanism to support defense spending, which has increased significantly after the invasion of Ukraine, – the report says.
According to intelligence, in 2023, the Russian Federation planned to spend about 5 trillion rubles ($84 billion) on “national defense”. This is more than 40% more than the previous budget figures for next year, which were announced in 2021.
Latest Defence Intelligence update on the situation in Ukraine – 19 November 2022
Find out more about the UK government’s response: https://t.co/QETLoujAbb
???????? #StandWithUkraine ???????? pic.twitter.com/Q0kqdha4pT
— Ministry of Defence ???????? (@DefenceHQ) November 19, 2022
The intelligence specified that issuing debt is expensive in times of uncertainty. Therefore, the size of the Russian auction may indicate that the Russian Ministry of Finance considers the current conditions relatively favorable but “expects an increasingly uncertain financial situation over the next year”.
According to British intelligence, the onset of winter will change the course of hostilities for both the Russian occupiers and the Armed Forces of Ukraine. The reason will be the reduction of daylight hours and a significant drop in temperature.
This may result in fewer attacks and a more static line of defense.