Russia’s parliament approves budget with a record amount devoted to defense spending

By The Associated Press

Russia’s parliament has approved a federal budget that increases spending by around 25% in 2024-2026 and devotes a record amount to defense. The budget was passed unanimously Wednesday by the Federation Council — the upper chamber of the Russian parliament — and will be sent to President Vladimir Putin to sign it into law. Under the budget, the country’s largest, defense expenditure is expected to overtake social spending next year for the first time in modern Russian history. It comes as the Kremlin is eager to shore up support for President Vladimir Putin before a March presidential election.