Russia

Russian military spending to reach $125 bln by 2011

18:42 15/01/2009

MOSCOW, January 15 (RIA Novosti) - The state will earmark 4 trillion rubles ($125 billion) for arms procurements by 2011, including 1 trillion rubles ($31 billion) in 2009, the Russian prime minister said on Thursday.

Vladimir Putin said the modernization of defense related enterprises would continue despite the global financial crisis.

"The modernization of defense industry enterprises as well as the development of modern weapons should continue," he said.

He added that federal defense programs need to be reviewed and "streamlined," in particular with regard to production volumes.

Russian Finance Minister Alexei Kudrin said earlier on Thursday the state had earmarked $10 billion for 'core enterprises' and defense-related sectors of industry.

Add to blog
Send to friend
Share

Add to blog

You may place this material on your blog by copying the link.

Publication code:

<div style="border:1px solid #d3d3d3; padding:17px 0 0px 17px; background:#ffffff; width:510px;"><div style="width:100%; overflow:hidden;"><a target="_blank" href="http://en.rian.ru/russia/20090115/119548847.html" style="text-decoration:none;"><img src="http://en.rian.ru/i/eng/logo_sml.gif" alt="RIA Novosti" title="RIA Novosti" style="float:left; margin-right:10px;" border="0" /></a><a target="_blank" href="http://en.rian.ru/russia/20090115/119548847.html" style="color:#000000;text-decoration:none;display: block; margin: 0 10px 0 0 ;"><strong style="font:19px Georgia,Arial,sans-serif; line-height:16px; font-weight:bold;">Russian military spending to reach $125 bln by 2011</strong></a><p style="font:13px Georgia,Arial,sans-serif; padding:5px 10px 0px 0;"><span style="color:#5590bf;">18:42</span> <span style="color:#5590bf; padding-right:7px;">15/01/2009</span> <span style="font-size:12px;">The state will earmark 4 trillion rubles ($125 billion) for arms procurements by 2011, including 1 trillion rubles ($31 billion) in 2009, the Russian prime minister said on Thursday. <a target="_blank" style="color:#335f86; padding-left:10px; text-decoration:underline;" href="http://en.rian.ru/russia/20090115/119548847.html" title="Russian military spending to reach $125 bln by 2011">>></a></span></p><div style="padding:6px 0 15px 30px; font:10px Verdana,sans-serif;"><a target="_blank" style="color:#114472; text-decoration:underline;" href="http://en.rian.ru" title="RIA Novosti">Other news of the day</a></div></div></div>

Preview:

Russian military spending to reach $125 bln by 2011

18:42 15/01/2009 The state will earmark 4 trillion rubles ($125 billion) for arms procurements by 2011, including 1 trillion rubles ($31 billion) in 2009, the Russian prime minister said on Thursday. >>

Other news of the day