30/4/17: Did Russia Really Cut 2017 Defense Budget by a Quarter?

trueeconomics.blogspot.com / by Constantin Gurdgiev / Monday, May 1, 2017

Headline figures from the Federal Treasury of the Russian Federation show a budgetary cut to the country defense spending of a whooping 25.5% y/y for 2017: from RUB3.8 trillion (USD65.4
billion) to RUB2.8 trillion.

However, the headline figure of 25.5% is misleading, because it is based on a fiscal defense allocation in 2016 that includes the federal funding for defense industry debt reductions.

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Read more ... source: The Bitcoin Channel

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