Global General

Russia to spend $13 billion on military

(Xinhua)
Updated: 2010-05-25 14:37

MOSCOW - Russia plans to spend 13 trillion rubles (over $13.3 billion) on rearmament in 2011-2020, Moscow's Vedomosti daily reported on Tuesday.

During a meeting chaired by Russian President Dmitry Medevedev and Prime Minister Vladimir Putin, it was announced that Russia had "sufficient funds" to support this program in case the annual gross domestic product (GDP) growth would be 3 to 6 percent, as has been forecast.

The money will be used for the purchase of weaponry, modernization of the existing military equipment, scientific research for the ministries of defense, interior, emergencies, Federal security service and the intelligence agency.

The representatives of these ministries asked for "several times more" funds, the newspaper said.

The final figures will depend on the requests from the particular plants and regional governors, who are interested in receiving the governmental orders for arms production.