Next year, Russia’s defense spending will be increased to 6% of the country’s gross domestic product (GDP) from 3.9% this year and 2.7% in 2021, Bloomberg reported on Sept. 22.
Next year, Russia’s defense spending will be increased to 6% of the country’s gross domestic product (GDP) from 3.9% this year and 2.7% in 2021, Bloomberg reported on Sept. 22.
Has their GDP contracted at all? I’d expect spending a greater percentage of a smaller total would yield similar results.
Yes, their GDP is shrinking: https://www.eeas.europa.eu/eeas/yes-sanctions-against-russia-are-working_en
I think their GDP actually went up somehow.
That chart measures it in USD which suffered from a period of high inflation during the last few years so its a bit misleading. I imagine it went up a lot when measured in rubles though.