A slowing wartime economy pushes the Kremlin to tap consumers for revenue
The Kremlin and the Grand Kremlin Palace, center right, are seen along the Moscow River in Moscow, Russia, on March 14, 2025. (AP Photo/Dmitry Serebryakov, File)/ After two years of robust growth fueled by military spending on , the budget deficit is up and defense spending has leveled off. The Kremlin needs money to keep its finances steady — and it’s clear where President Vladimir Putin intends to get it: at the cash register, from ordinary people and small businesses./ An increase in value-added tax to 22% from 20% is expected to add as ...
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