Russia’s economy is holding up much better than almost anyone expected. And the direct fiscal cost of the war—what it is spending on men and machines—is surprisingly low
than almost anyone expected. And the direct fiscal cost of the war—what it is spending on men and machines—is surprisingly low.
That is, by historical standards, a puny amount. We compiled estimates of spending on other wars—some involving Russia, some not . At the peak of the second world war the USSR spent 61% of GDP on the war effort. Around the same time America spent about 50% of GDP on its military forces.
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