Friday, December 16, 2005

Russia to Boost New Weapons Spending — Minister

Russian Deputy Prime Minister and Defense Minister Sergei Ivanov said on Wednesday that 70 percent of next year’s state defense order would be spent on the procurement of new armaments and military hardware, the Interfax news agency reported.

“The state defense order will amount to 237 billion rubles ($8.27 billion) next year, which is nearly 54 billion rubles ($1.88 billion) more than this year. This will allow the spending of 70 percent of the funds on the procurement of new armaments and military hardware or comprehensive upgrades of the hardware currently available in military units,” Ivanov told reporters in Moscow.

He stressed that “next year we are planning to procure as much hardware as is needed to rearm a whole military unit — a battalion, a squadron or a regiment”.

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