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Russia raises military budget for 2024 by 70%: what does this mean?

By Gilbert Doctorow | September 30, 2023

It is always a pleasure to have an on-air chat with WION, the premier English-language global broadcaster of India. Yesterday was especially so when their program host posed a series of very relevant questions about the just announced Russian military budget for 2024 showing a 70% increase in spending over the current year. Naturally, one wonders about Russia’s intentions: how will these new funds be spent? On which weapons systems? What kind of message is Russia sending to the West by this increase? How will the increased military spending impact on social spending within Russia or, put another way, are guns and butter a sustainable political course?

In this introduction, I will not telescope my answers. I am hopeful that readers will watch the interview and follow the logic set out therein.

However, I can say here that I set out the key drivers for the increased spending. One is the latest Russian assumptions on when the war in Ukraine will end, on how it may escalate into a general Russia-NATO war as the Biden administration resists admitting defeat in Ukraine, which is possibly imminent, by expanding the conflict and introducing NATO forces on the ground. The second is the expenses related to the near doubling of the size of the Russian army now underway following the induction of 300,000 men one year ago by mobilization of reserves and the sign-up of more than 400,000 volunteers that we have seen since the start of this year.

As regards the other issues, such as the 6% of GDP that the new military budget represents, or the 2% overall budget deficit that Russia is now incurring, I explain in this interview why such figures cannot be commented upon as if in a vacuum but must be compared to what countries in the West are now experiencing, as well as to Russia’s own Soviet past.

©Gilbert Doctorow, 2023

October 3, 2023 - Posted by | Economics, Militarism, Video | ,

1 Comment »

  1. The Ukraine war is not being fought in a vacuum. China is closer than ever to Russia now while the global south has completely broken from the grips of IMF colonialization and into the arms of the BRICS being led by Russia and China. It’s not a happy situation for the UK/US war party, but a well deserved one. After decades of looting Africa’s raw materials while indebting most of the nations of Africa, and S. America beyond the ability to pay. Drowning them in debt until the “pips squeak” as they say in London. Then, bankers send in the IMF executioners who slice and dice government budgets, implementing brutal austerity by cutting social programs, infrastructure, healthcare, pensions, wages, etc. Who can ever forget when the IMF, ECB, and EU troika turned their attention on one of their own European members. They gave Greece the same treatment only a few short years ago. And then the EU had the gall to force Greece into accepting refugees from war torn countries of Southwest Asia. A region of mostly Arab nations the US decided to invade, using 911 as a pretext for its invasions. “We are looking at Iraq through the Prism of 911”, said Dick Cheney to an American population wanting revenge for 911.

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    Tom Simpson's avatar Comment by Tom Simpson | October 3, 2023 | Reply


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