Russia is planning a significant increase in its defense budget for the year 2024, according to a statement by Finance Minister Anton Siluanov.
The minister revealed the financial plans on the messaging service Telegram.
A boost in military spending
Siluanov stated that the resources allocated for 2024 would "fully provide for the tasks of the military defense, inclusive of equipment, logistics, and social security of military personnel."
The total spending on national defense is set to be 10.8 trillion rubles ($108 billion dollars), a figure that surpasses this year's budget.
Addressing "The Most Important Task"
The Finance Minister also stated that the increase is necessary because "we need this money to solve the most important task."
While the Finance Minister did not specify what "the most important task" was, there is no doubt that for Russia, it's about achieving success in the war in Ukraine, which has already taken much longer than initially anticipated.
The budget will cover various aspects of the military, including equipment, logistics, and the welfare of military personnel.
The statement by Anton Siluanov underscores Russia's commitment to strengthening its military, but it also raises concerns about what this increased spending could mean in the context of international relations and stability.