Posted 3/4/2024, 8:43:00 AM
Putin Promises Billions for Infrastructure and Social Services, But Funding Remains Unclear
- Putin pledged over $130 billion for infrastructure, hospitals, and birth rate improvements, but funding not in budget
- Promises made during annual address before presidential election, expected to win 6-year term
- Biggest plans include $49B to upgrade infrastructure and $1B to build/renew hospitals
- Unclear where extra budget will come from; proposed tax changes to get more from high-income
- Analysts say promises affordable unless economy worsens, then more financing needed