Russia Borrows to Fund Ukraine War

In connection with the war in Ukraine, Russian defense spending is increasing, and in 2023 they will be 40 percent higher than the previous year. More than originally planned; The British Ministry of Defense said on Saturday that the spending is being financed increasingly through borrowing.

As reported in a daily intelligence report On November 16, Russia undertook its largest single-day debt issue, raising 820 billion rubles ($13.6 billion).

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“This is important for Russia because lending is an important means of sustaining defense spending, which has increased significantly since the invasion of Ukraine. Russia’s reported spending on “national defense” for 2023 will be about 5 trillion rubles (84 billion less. ), which An increase of over 40%. Compared to the preliminary budget for 2023 announced in 2021. Lending is expensive in uncertain times.

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