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Trends and Insights

17 Nov 2023

Russia Adds $37B to Budget Amid Inflation, Ukraine War Costs

Russia has allocated an additional Rbs3.4tn ($37bn) to its annual budget amidst escalating inflationary risks from a weak rouble and the rising financial burden of the war in Ukraine. Such substantial expenditure intensifies inflationary pressures on an already overheated economy. The concern about the weak rouble's impact on the inflation rate has been openly expressed by Vladimir Putin. [Source](