Officials tell Putin war costs no longer sustainable
REUTERS/Ramil Sitdikov
Russia’s
Finance Ministry and the Central Bank warned dictator Vladimir Putin that Ukraine
war spending is “on an unaffordable path,” Bloomberg reported
on June 1.
“The officials, who have grown increasingly concerned about the state of Russia’s economy and state budget in recent months, have proposed new cuts to defense spending, the people said,” the report said.
“However, a divide among policymakers has seen senior officials in the Defense Ministry and some in the Kremlin, who are determined to pursue Putin’s war aims, insist on protecting military expenditure. Reducing it would badly damage the economy because so many businesses are reliant on military-related contracts, they have argued.”
Sources said the scale of any spending cuts will ultimately
depend on Putin, as no major budget decisions are made without his approval.
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