Russia will spend more than $30 billion for military equipment and weapons in 2012 2511111

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Defense News - Russia
 
 
Friday, November 25, 2011, 07:52 AM
 
Russia will spend more than $30 billion for military equipment and weapons in 2012.
Over 1 trillion rubles ($30 billion) will be spent on the provision of arms and military equipment to the Russian Armed Forces next year, Deputy Prime Minister Sergei Ivanov said on Thursday, November 24, 2011.
     

Russian Prime Minister Sergei Ivanov
     

That is 17% up on the previous year, he said.

A total of 4 trillion rubles will be earmarked for these purposes over the next three years, Ivanov said.

Some 60% of the funding under government defense contracts will be spent on the procurement of advanced weaponry.

Such funding levels are quite significant, Ivanov said, adding that “it is inappropriate” to suggest that funding for defense and security programs is “insufficient.”

It is of paramount importance now to ensure that these funds are put “to good use,” Ivanov said.