Russia plans to raise taxes to finance the defense budget with a decrease in oil revenues.
Despite Western sanctions, Russian military spending has fueled the war economy. After three years of war in Ukraine, growth is suspended, energy revenue declining, and the budget deficit expands.
To support state treasures, Russia raises value -added tax from 20 percent to 22 percent, among other measures. The Ministry of Finance says that the funds will mainly cover the spending on defense and security.
The plan came a day after US President Donald Trump said that Russia was suffering from a “major economic problem”, but is it?
Can the UK Labor Party fulfill its economic promises?
In addition, will the trade agreement of Africa, Agi, will be renewed?
It was published on October 2, 2025
https://www.aljazeera.com/wp-content/uploads/2025/10/image-1759425063.jpg?resize=1920%2C1080&quality=80
Source link