MOSCOW, October 25 (RIA Novosti) - Current levels of defense spending will ensure Russia's security for a long time, Russian President Vladimir Putin said Wednesday.
In his annual televised question-and-answer session, Putin said defense spending has grown 250% since 2000, and now accounts for 2.6% of GDP.
"This is approximately similar to the amount NATO member states spend, but it is far less in absolute terms," he said, adding that the United States spends 2,400% more on defense than does Russia.
Putin said Russia has earmarked some $30 billion for defense in 2007, compared to China's $65 billion and France's $45 billion. But he said that despite such a disparity, the government considered the amount to be enough.
"We will rely on the defense sector, which we have fortunately preserved, for new developments, so that our responses will always be effective and asymmetrical," he said.
