Zachary Keck
The Diplomat
April 9, 2014

Russia has announced that it will increase defense spending by some 18 percent this year despite its worsening economic outlook.

A Russian Air Force Mil Mi-24P attack helicopter. Export versions are known as the "Hind D" or "Hind E." Credit: Russavia / Wiki
A Russian Air Force Mil Mi-24P attack helicopter. Export versions are known as the “Hind D” or “Hind E.” Credit: Russavia / Wiki

According to a report in Jane’s Defence Weekly, the Russian Federal Treasury announced late last month that “Expenditure on National Defense” will rise from 2,101.4 billion rubles ($58.2 billion) in 2013 to 2,488.1 billion rubles in 2014. This is projected to be about 3.4 percent of Russia’s GDP but over 20 percent of government spending. Another 16.5 percent of the government budget will go to national security and law enforcement.

By contrast, in 2010 defense spending only accounted for 12.6 percent of total state spending while defense and security only accounted for about 25 percent compared to the nearly 37 percent of spending they will make up in 2014. Jane’s notes that spending on “education, housing, social care and healthcare will all fall” as a result.

The increase this year follows what some estimate to be a 31 percent increase in defense spending between 2008 and 2013. Moreover, Russia intends to continue expanding its defense budget in the years ahead. According to the Jane’s report, the Russian Federal Treasury anticipates the defense budget to grow by more than 33 percent over the next two years. Thus, according to current forecasts, by 2016 the Russian defense budget will be around 3,378.0 billion rubles ($95.6 billion).

Read more


NEWSLETTER SIGN UP

Get the latest breaking news & specials from Alex Jones and the Infowars Crew.

Related Articles


Comments