Russia Faces Economic Strain Amid Ongoing War and Defense Spending
TL;DR
Russia plans to increase taxes and reduce non-military spending to sustain record-high defense expenditures amid falling oil revenues and economic challenges, with potential spending cuts contingent on the end of the Ukraine conflict, while facing a growing budget deficit and economic pressures.
- Russia Eyes New Tax Hikes, Spending Cuts to Sustain Record Defense Spending – Reuters The Moscow Times
- Pressure on Russia's economy intensifies as war in Ukraine continues Euronews.com
- Russia, under war spending pressure, set for more austerity, tax hikes Reuters
- Russia’s Economy is Tanking AGF Perspectives
- Why Russia’s wartime economy is starting to crack, with Elina Ribakova Financial Times
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