Putin approves record defence spending - a third of Russia's budget - Voice of Asia

Russian President Vladimir Putin has approved a record defense budget, allocating a staggering one-third of the government's total expenditure to defense, reflecting the immense drain on resources for both sides as the war in Ukraine approaches its third year. The release of this budget underscores Russia's emphasis on military investment in the conflict.

The budget, released on Sunday for the coming year, allocates approximately $126 billion (about A$194 billion) for defense, accounting for 32.5% of government spending. This defense budget is about $43 billion higher than the previous record set this year. The new three-year budget forecasts a slight decrease in military spending for 2026 and 2027, and it has already been approved by both houses of the Russian parliament.

The war in Ukraine is the largest conflict in Europe since World War II. Currently, Moscow is making advances in key positions along the front line and is counterattacking in the Kursk region, the only place where Kyiv has achieved a significant military victory this year. This slow and attritional war, where both sides are trying to weaken the other, has exhausted the resources of both nations. Ukraine has been at a disadvantage in terms of supplies and manpower, despite receiving billions of dollars in aid from Western allies, including over $500 million in new military equipment pledged by Germany on Monday.

Whether aid will continue to arrive after US President-elect Donald Trump takes office remains to be seen. Meanwhile, Russia has more weapons, ammunition, and personnel, but its economy and population are also under increasing pressure. Russia has drastically increased military spending over the past two years, and its economy is also showing signs of overheating: inflation is high, and businesses are facing labor shortages. To control the situation, the Russian central bank raised interest rates to 21% in October, the highest level in decades.

Recently, North Korea has sent a large number of soldiers to the Russian front lines to assist in combat. The Ukrainian government stated last month that approximately 11,000 North Korean soldiers were in Kursk. According to Ukrainian defense officials and CNN's count of attacks, some of Russia's weapons also come from North Korea, accounting for about one-third of the ballistic missiles fired at Ukraine this year. North Korean troops may assist Russia's combat efforts for a while, but the material losses may be more difficult to replace.