Russian Budget Shows $400 Billion Price Tag for Putin’s Promises

Russia is planning to spend more than 40 trillion rubles ($431 billion) over six years to achieve social targets Vladimir Putin set for his new presidential term, according to the Finance Ministry.

Over the next three years, the cost of those promises laid out ahead of his reelection in March will reach 18 trillion rubles, a draft of the state budget shows. The annual expenditure is roughly twice as much as Russia spent on its national projects in each of the previous six years.

The draft federal budget for the next three years prepared by the Finance Ministry contains ...