Russia’s Finance Ministry projected budget deficits equivalent to 2% of gross domestic product for each of the next three years and proposed tax increases to help sustain military expenditure. The ministry submitted its draft budget to the government, which is due to review it before October 1 and forward it to parliament. Defense and security spending were identified as strategic priorities, including weapons, military equipment, defense-industry modernization and payments to military personnel. The proposals come as the 4-1/2-year war in Ukraine has increased fiscal pressure, with economic growth slowing sharply last year and the government raising taxes and borrowing to finance the war effort. Proposed measures target excess profits in the metals and fertilizer sectors, trans-border electronic trade and passive personal income from securities investments, property sales and bank-deposit interest. The ministry said about 4 million people would be affected by the personal-income tax changes.