Russia Was Forced to Cut Spending After Running Out of Cash
6 Articles
6 Articles
Due to war costs, Russia cut budget expenditures by 35% amid growing deficitRussia cut most of its budget expenditures by 35%, without affecting defense and social security payments. Deficit reached 8.654 trillion on August 24 rubles.
Russia has run out of free liquidity.
An unprecedented liquidity shock is forcing the Kremlin to impose drastic cuts. With the deficit spiraling to $77 billion, Moscow is freezing critical government spending to continue financing the war, Bloomberg reports. The post Bloomberg: Russia is running out of cash: Harsh austerity and 35% cuts to save the war machine appeared first on in.gr.
Russia Was Forced to Cut Spending After Running Out of Cash
The deficit of the Russian budget has already more than doubled the plan for the whole year, but the Kremlin believes that the resources to continue the war will be enough for several more years
Russia was forced to impose strict restrictions on state spending after an acute liquidity crisis it faced in April, which highlighted the growing costs of the war in Ukraine. This… Russia in austerity regime – 35% cuts in spending and plan to reduce personnel - NAVY TRADE
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