Business StandardCenter·
Putin seeks new tax revenue to fund Russia's war as budget deficit swells
With Russia's invasion of Ukraine intensifying the strain on state finances, President Vladimir Putin is reaching for cash to fund his government and the war, squeezing tax revenue from an economy that's increasingly skewed toward the military - while civilian needs take a back seat. The country's 2027-2029 state budget, which will be taken up Thursday in the rubber-stamp parliament, is accompanied by a string of tax hikes announced after the September parliamentary elections. While last year t…
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