this post was submitted on 09 Sep 2023
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Russia’s out-of-control military spending. What are the implications for the rest of the economy? (novayagazeta.eu)
submitted 1 year ago* (last edited 1 year ago) by 0x815@feddit.de to c/europe@feddit.de
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In the first six months of 2023, total budget expenditure rose to almost 15 trillion rubles (€142.3 billion), an increase of 2.5 trillion rubles (€23.7 billion) on the previous year, with defence spending responsible for almost the entire difference, economic analyst Boris Grozovsky says. The Russian government has simultaneously increased military spending while decreasing spending in other sectors, which is “why budget statistics are no longer being released,” Grozovsky added.

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[–] gajustempus@feddit.de 0 points 1 year ago (8 children)

as long as there're still european countries buying stuff from Russia (yes, I'm looking at you, Austria, Hungary, Poland...) and therefore financing the whole war, I fear we won't see an end of all of this in the near future.

Plus it's beyond me why PayPal and all other payment processing sites don't block stuff like Boosty, which is used by almost exclusively russian firms to bypass western sanctions and receive cash - which does, in the end, also fuel the war business of Russia.

[–] agarorn@feddit.de 0 points 1 year ago (5 children)

As far as I understand Russia spending most of their money in the country itself to pay for the salaries of soldiers and manufacturing.

Instead, the state is just printing money,

If Austria is really financing the war, then only if Russia used that money to buy war stuff from elsewhere. For that I have no information. (I know that they buy from Iran and north Korea. However both of these countries do not use the euro?)

[–] severien@lemmy.world 0 points 1 year ago (1 children)

If Austria is really financing the war, then only if Russia used that money to buy war stuff from elsewhere

Does not compute. Money from Europe helps financing the war even if it's domestic production. Money is fungible, you can't say this specific euro or ruble is not used for weapons and therefore it's ok to pay them. Western business helps prop up ruble exchange rate which limits inflation and domestic discontent, which allows Putin to spend more on domestic weapon production.

[–] tryptaminev@feddit.de 0 points 1 year ago* (last edited 1 year ago)

what are you talking about? countries buying from russia gives russia money that they can use to import stuff. without the foreign spending theyd lack that money

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