Russia's defence budget goes Cold War: Putin sets aside $202 billion for military

Russia is embarking on an ambitious plan to dedicate 17.1 trillion roubles to its defence by the year 2027, showcasing a dramatic increase from prior levels. This budget revision reflects a strategic pivot due to the protracted conflict in Ukraine. Defence spending is estimated to account for 6.9 percent of GDP, aiming to bolster military resources and production capabilities amidst ongoing financial pressures and budget deficits.