Russia cuts welfare, education and healthcare budget as war spending hits new high
- The government is also spending more on servicing its debt as high interest rates increase borrowing costs.
- Russia is preparing to cut spending on welfare, education and healthcare in its 2027 federal budget while raising taxes, as the government struggles to meet the rising cost of its war in Ukraine, according to fiscal documents reviewed by Reuters.
- The draft budget proposes 17.1 trillion roubles ($202.58 billion) for defence in 2027.
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- The government is also spending more on servicing its debt as high interest rates increase borrowing costs.
- Russia is preparing to cut spending on welfare, education and healthcare in its 2027 federal budget while raising taxes, as the government struggles to meet the rising cost of its war in Ukraine, according to fiscal documents reviewed by Reuters.
- The draft budget proposes 17.1 trillion roubles ($202.58 billion) for defence in 2027.
Sources: Times of India