Russian President Dmitry Medvedev approved on Friday a long-term policy for the development of the national defense industry.

The document, drawn up on the president's instructions by the Industry and Trade Ministry in conjunction with the Defense Ministry, the Federal Space Agency, and other government agencies, formulates industry policy through 2020.

"The document defines the goals, strategy, objectives and stages in the development of the defense industry," said Deputy Prime Minister Sergei Ivanov.

He stressed that development and production of modern electronic systems would be a priority for the industry in the next three to four years.

Ivanov said a special federal program for the development of the defense industry, currently being drafted, would receive around 100 billion rubles ($3.4 billion) in financing a year through 2020.

GORKI (Moscow Region), March 19 (RIA Novosti)