‘Good idea’: Vladimir Putin backs Trump’s proposal to slash defence budgets

Russia has massively ramped up military spending since launching its offensive in Ukraine in 2022, boosting economic growth but also inflation.

Russian President Vladimir Putin on Monday backed a suggestion by US counterpart Donald Trump for Russia, the United States and China to all cut their defence budgets in half.

Putin said last year that by 2024 defence and security spending would reach about 8.7 percent of the GDP. (REUTERS)

"I think it's a good idea. The US would cut by 50 per cent and we would cut by 50 per cent and then China would join if it wanted," Putin said in a televised interview.

Russia has massively ramped up military spending since launching its offensive in Ukraine in 2022, boosting economic growth but also inflation.

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Vladimir Putin said last year that by 2024 defence and security spending would reach about 8.7 per cent of the GDP.

He said Monday he could not speak for China but that Russia "could come to an agreement with the US (on cutting spending), we're not against it."

"We think it's a good proposal and we are ready for a discussion about this," he concluded.