French media: Russia's 2023 military budget doubles expenditure | Russia | Budget
According to the French newspaper Echo on August 4th, Russia's military budget is getting higher and higher. According to a government document consulted by Reuters, Russia has doubled its defense spending target for 2023 to over 90 billion euros, accounting for one-third of all public spending.
The document shows that since the beginning of this year, Russia has spent 57.4% of its new military budget target.
Data shows that as of the first half of 2023, Russia's defense spending exceeded the originally planned annual expenditure by 600 billion rubles, equivalent to a 12% increase.
![French media: Russia's 2023 military budget doubles expenditure | Russia | Budget](https://a5qu.com/upload/images/e64b0683b26d852582a1197c027d0b78.jpg)
These expenditures have become the engines for a strong recovery in industrial production. Analysts believe that national defense contracts are a key factor in Russia's economic rebound.
"Military companies are supporting industrial growth, while civilian industries are slowing down again," said Dmitry Bolevoy, investment director of Loko Investment Company, after releasing industrial production data for June last month