MOSCOW, March 2 (RIA Novosti) -- Russian arms export monopoly Rosoboronexport has a portfolio of orders worth a total of $27 billion, the head of the state-run Russian Technology Corporation said on Monday.

In an interview with the daily Izvestia, Sergei Chemezov said that the orders would provide domestic defense firms with contracts to keep them going for the next four to five years.

He said this factor would have a significant socio-economic effect, since the Russian defense industry currently employs 2.5-3 million workers, or 20% of industry's total.

Russia's Deputy Prime Minister Sergei Ivanov said last week the country's 2009 arms exports would remain at the previous year's level.

The Federal Service for Military Cooperation previously said that arms exports would rise from $8 billion (2008) to $8.5 billion this year.

Russia's deputy defense minister previously said that state defense contracts would not be subject to cuts this year despite the ongoing financial crisis.

The Defense Ministry will transfer 35% of military contract payments in the first quarter of 2009. The government is to disburse a total of 1.3 trillion rubles ($37 billion) to defense contractors this year.

The state arms production budget for 2009-11 has been approved at 4 trillion rubles ($115 billion).