WAR IN UKRAINE BOOSTS DEPRESSED RUSSIAN AS VLADIMIR PUTIN ANNOUNCED HIS CANDIDACY FOR A 5TH PRESIDENTIAL TERN.(PHOTO).

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War in Ukraine boosts depressed Russian regions amid defence sector boom
The Kremlin appears to be preparing for a long, drawn-out war in Ukraine by boosting defence spending by 70 percent next year, a move that promises to benefit depressed Russian regions and sectors related to the war effort

During a highly choreographed awards ceremony for army personnel in the gilded St George’s Hall at the Kremlin, Russian President Vladimir Putin announced his candidacy for a fifth presidential term in the 2024 elections.

The announcement came as Russia's full-scale invasion in Ukraine approaches its second anniversary.

“They (the Russian government) initially expected this war to be short,” said Andrei Yakovlev, an economist from the Davis Center for Russian and Eurasian Studies at Harvard University.

 

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