Russia Prepares to Tighten Spending in 2016

MIN READNov 3, 2015 | 09:15 GMT

The Great Kremlin Palace in Moscow.

(IAN WALTON/Getty Images)

After months of battles over the details in the Russian Cabinet and among the Kremlin elite, the Russian State Duma is currently debating the 2016 federal budget. The draft submitted to the Duma shows the Kremlin's priorities for the next year, as well as the constraints on Russia both internally and externally. How Russia spends its limited resources this year will affect the country far beyond 2016. There are three areas of particular concern in the draft budget that could have far-reaching effects for Russia: spending the Kremlin's reserves, supporting regional governments and spending on defense....

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