Breaking news
Russia to increase defense budget in 2016 to continue modernization of its armed forces 12710151.
| 2015
|
|
|||
|
Defence & Security News - Russia
|
|||
|
|
|||
| Russia to increase defense budget in 2016 to continue modernization of its armed forces. | |||
|
Russia plans to boost its defense budget of 0.8 % for 2016 to increase modernization of military equipment of its armed forces. In 2015, almost $32 billion from the annual defense budget was allocated to military procurement.
|
|||
|
|
|||
 Many new combat vehicles was showed for the first time to the public during the may 9 military parade as the new main battle tank T-14 Armata. |
|||
|
|
|||
|
Russian military expenditure has been rising since 2011, when the government launched a massive $700 billion rearmament drive aimed at modernizing some 70 percent of the Russian armed forces by 2020.
In 2016, the increase will be smaller. According to a draft of the 2016 federal budget, “the 2016 budget allocation for national defense is planned at 3.145 trillion rubles ($50 billion),” or about 4 percent of Russia's projected gross domestic product, news agency TASS reported Saturday. Russia's 2016 budget marks the first time since 2011 that military spending will not drastically increase year-on-year. If the draft budget is approved, defense expenditure will rise by just 25.5 billion rubles ($400 million), or less than 1 percent, according to TASS. Allocations for investment in infrastructure “for special and military purposes” will be reduced by 48.85 billion rubles ($775 million), but money for military salaries will increase by 40 billion ($640 million), the report said. The TASS report did not specify how much of the proposed military budget would be dedicated to buying new military equipment, as mandated by Putin's 2020 rearmament and modernization program, but spending on new equipment is usually two-thirds of the budget. |
|||