Putin Acknowledges Economic Impact of Defense Spending

President Vladimir Putin has revealed that Russia's defense spending is causing budgetary strain and increasing inflation. He stated that the country might consider reducing military expenditures over the long term to alleviate these pressures.

President Vladimir Putin admitted on Friday that the Russian Federation is experiencing budgetary constraints as a result of heightened defense spending, which is contributing to inflationary pressures in the country.

In a statement acknowledging the economic challenges faced by Russia, Putin emphasized the government's readiness to consider future reductions in military expenditure. This could potentially ease the financial burden and help stabilize the national economy.

The Russian leader's remarks come at a time when increased defense costs are influencing fiscal policies and prompting concerns about their long-term impact on inflation and overall economic health.

(With inputs from agencies.)