Russian President Vladimir Putin has announced plans to increase military spending to $142 billion by 2025. This represents a significant increase from the current budget of $61.7 billion. The move comes amid heightened tensions with the West and concerns about NATO expansion.
The increased spending will be used to modernize Russia’s military, including the development of new weapons systems and the purchase of advanced equipment. Putin said that the spending is necessary to ensure Russia’s security and to maintain its status as a global power.
