Russia's military spending in 2024 exceeded the combined defense budgets of all EU countries and Great Britain, the Financial Times reported, citing a study by the International Institute for Strategic Studies (IISS). The increase in Russia's defense budget was unprecedented in its scale, which experts attribute to the current geopolitical situation and the state's priorities in strengthening the armed forces.

According to the institute's calculations, Russia's total military spending last year was 13,1 trillion rubles, equivalent to $462 billion in purchasing power parity (PPP). This is 42% more than the year before. At the same time, the total defense spending of the EU and the UK was lower than this figure.

Russia's defense spending is expected to continue to grow in 2025, increasing by 13,7% to reach 15,6 trillion rubles. This will amount to 7,5% of the country's GDP, and the defense sector's share of the federal budget will increase to 40%. This amount includes both direct military spending and payments to military personnel from regional authorities and state corporations.

The growth of the defense budget is explained by the continuation of the conflict in Ukraine and the need to modernize the armed forces. A significant portion of the funds is spent on the development of advanced weapons systems, including strategic missiles, air defense systems and electronic warfare. In addition, the Russian leadership pays special attention to the material support of military personnel and payments to participants in military operations, which also requires significant financial resources.