Government budgets

Russia’s defense spending Russia’s defense spending will rise 25% in 2025 to 13.5 trillion rubles ($145.32 billion) from 10.8 trillion rubles in 2024, state budget documents released today show.

Defense spending will make up 32% of the total budget spending and will reach 41.5 trillion rubles.

During a parliamentary budget committee meeting, Dimitar Radev, the Governor of the Bulgarian National Bank (BNB), advocated for a strategic fiscal approach, proposing a 10% buffer allocation within the budget for 2024. This buffer, if not utilized due to unforeseen risks, would be available for expenditure in the final quarter of the year.

The government submitted Greece's 2019 budget - the first in the post bailout era - to Parliament on Wednesday, saying it seeks to redress injustices against weaker social strata.

Moreover, Alternate Finance Minister Giorgos Houliarakis told lawmakers that it does not include legislated pension cuts planned for January.

Greece's central government exceeded its target and achieved a primary budget surplus of 6.46 billion euros (5.63 billion pounds) in the 10 months to October, thanks to higher revenues and lower spending, finance ministry data showed on Wednesday.

Istanbul is boosting state income by bringing in nearly half of all tax revenues collected by the Treasury, according to figures released by the Finance Ministry.

Istanbul single-handedly contributed a sweeping 46.07 percent of the entire state budget with 185 billion Turkish Liras ($71 billion at the current exchange rate) in 2014.

Turkey’s defense spending stood at 29.4 billion Turkish Liras ($13.2 billion) this year, Defense Minister İsmet Yılmaz said on Nov. 2, in response to a parliamentary question from a deputy of the opposition Nationalist Movement Party (MHP).

World military expenditure totalled USD 1.75T in 2013, a fall of 1.9% since 2012, according to figures released by Stockholm International Peace Research Institute (SIPRI).