عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Putin Approves Military Focused 2025-2027 Budget

Russian President Vladimir Putin meets with the Governor of the Kirov region in Moscow, Russia, 29 November 2024. EPA/VYACHESLAV PROKOFIEV / SPUTNIK / KREMLIN POOL
Russian President Vladimir Putin meets with the Governor of the Kirov region in Moscow, Russia, 29 November 2024. EPA/VYACHESLAV PROKOFIEV / SPUTNIK / KREMLIN POOL
TT
TT

Putin Approves Military Focused 2025-2027 Budget

Russian President Vladimir Putin meets with the Governor of the Kirov region in Moscow, Russia, 29 November 2024. EPA/VYACHESLAV PROKOFIEV / SPUTNIK / KREMLIN POOL
Russian President Vladimir Putin meets with the Governor of the Kirov region in Moscow, Russia, 29 November 2024. EPA/VYACHESLAV PROKOFIEV / SPUTNIK / KREMLIN POOL

Russian President Vladimir Putin has approved a military focused budget for 2025-2027, a document published on the official legal acts website showed on Sunday.
The state budget for next year includes a 25% hike in military spending but will be the most secretive in post-Soviet history, with almost a third of all spending closed to public scrutiny, Reuters reported.
The government has acknowledged that the needs of what Moscow calls its special military operation in Ukraine and support for the military will remain the budget priority along with social needs and technological development.
The government has presented the draft budget as "balanced", with the deficit falling to 0.5% against this year's projected deficit of 1.7% and state debt remaining below the 20% mark for the next three years.

Most Viewed

 
 
Business

Pakistan Sees Economy on Long-Term Recovery Path Under IMF Program

Pakistan's Prime Minister Shehbaz Sharif speaks during the World Governments Summit in Dubai, United Arab Emirates, Tuesday, Feb. 11, 2025. (AP Photo/Altaf Qadri)
Pakistan's Prime Minister Shehbaz Sharif speaks during the World Governments Summit in Dubai, United Arab Emirates, Tuesday, Feb. 11, 2025. (AP Photo/Altaf Qadri)
TT
TT

Pakistan Sees Economy on Long-Term Recovery Path Under IMF Program

Pakistan's Prime Minister Shehbaz Sharif speaks during the World Governments Summit in Dubai, United Arab Emirates, Tuesday, Feb. 11, 2025. (AP Photo/Altaf Qadri)
Pakistan's Prime Minister Shehbaz Sharif speaks during the World Governments Summit in Dubai, United Arab Emirates, Tuesday, Feb. 11, 2025. (AP Photo/Altaf Qadri)

Pakistan's economy is on a path to long-term recovery, thanks to a stabilization program backed by the International Monetary Fund, Prime Minister Shehbaz Sharif said, ahead of a first review of a $7 billion bailout set for early in March.

The comments came in Sharif's meeting on Tuesday with managing director of the IMF, Kristalina Georgieva, on the sidelines of the World Government Summit (WGS) 2025 in Dubai, his office said in a statement.

Sharif underscored the progress made under the IMF's Extended Fund Facility (EFF), which has played a key role in stabilizing Pakistan's economy and set it on the path of long-term recovery, it added.

A three-member IMF mission is currently in Pakistan to conduct a Governance and Corruption Diagnostic Assessment under the country's 2024 Extended Fund Facility program.

On Tuesday, the team met with Pakistan's Chief Justice Yahya Afridi to get details regarding the judicial and regulatory system of the cash-strapped country.

In a post on X, Georgieva said, “I am encouraged by their strong commitment to Pakistan's IMF-supported reforms and support their decisive actions.”

These would help pave the way to higher growth and more jobs for Pakistan's youthful population, she added.

Ahead of the IMF review, the government and central bank have expressed confidence about meeting its targets, even as Pakistan struggles to navigate the recovery, following the bailout secured in September.

Tuesday's meeting focused on the macroeconomic stability brought by the government's reform agenda under the IMF program and efforts to maintain fiscal discipline, Sharif's office said.

He vowed to keep up the momentum for reform, particularly in areas such as taxes, energy efficiency and private sector development, it added.