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International Business Times
International Business Times
World
AFP News

Military Spending Pushes Russian Economic Growth Up

President Vladimir Putin says Russia can afford the massive military spending for its offensive in Ukraine that has helped boost the economy (Credit: AFP)

Russia's economy grew 5.4 percent in the first quarter of 2024, official statistics published Friday showed, as President Vladimir Putin denied military spending on his Ukraine offensive was reaching unsustainable levels.

The Kremlin has heavily militarised Russia's economy since sending troops into Ukraine in February 2022, with the vast outlays helping to power growth and cushion the blow of Western sanctions.

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