Russia's Economic Growth May Be Too Weak to Sustain Defense and Social Spending, a Top Business Leader Warns

Russia’s economic growth may be too weak to sustain defense and social spending, a top business leader warns

Russian President Vladimir Putin has said he was looking to hike taxes on the rich to bankroll the war in Ukraine. Sergei Bobylyov/Pool/AFP/Getty Images Russia’s economy is slowing, raising concerns about funding defense and social spending. Western sanctions and soaring military outlays are straining its growth and stability. Moscow is planning tax hikes to help bankroll the Ukraine war effort. Russia’s economy has slowed to a pace that could …

Russia's economic growth may be too weak to sustain defense and social spending, a top business leader warns

Russian President Vladimir Putin has said he was looking to hike taxes on the rich to bankroll the war in Ukraine.Sergei Bobylyov/Pool/AFP/Getty ImagesRussia's economy is slowing, raising concerns about funding defense and social spending.Western sanctions and soaring military outlays are straining its growth and stability.Moscow is planning tax hikes to help bankroll the Ukraine war effort.Russia's economy has slowed to a pace that could jeopar…