The Telegraph: Putin Flustered After Learning That 'Russia Is On The Brink'

The head of the Kremlin will start cutting military spending.

Russian dictator Vladimir Putin is set to cut military spending after Kremlin officials warned that Russia is "on the brink of a recession."

As The Telegraph writes, Putin said he will start cutting defense spending in 2026, with the cuts lasting three years in total.

Commenting on NATO's intentions to increase defense spending to 5 percent of GDP, Putin said the alliance members would spend the money on "purchases from the United States and on supporting their military-industrial complex."

The publication noted that Putin announced his plans after Russian Economic Development Minister Maksim Reshetnikov recently said the country was "on the verge of recession."

With the backdrop of the war against Ukraine, the publication noted that the Kremlin has offered high salaries and generous enlistment bonuses to soldiers to swell the ranks on the front lines.

"While the military-industrial complex has benefited from increased government spending, private-sector industries have suffered from lower demand, rising costs and high debt risk due to exorbitant interest rates," the publication wrote.

In addition, Russia's future spending may include spending to reintegrate those who have returned from the war against Ukraine. Of the nearly 140,000 Russian soldiers who have returned to civilian life, half are unemployed.

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