Russia, flush with wealth from its record-level oil and gas exports, is planning to further boost its defense spending by almost 50 percent over the next three years, a senior legislator in Moscow said last week.
"According to a draft federal budget for 2009-2011, expenditure on national defense will increase in 2009 by 25.7 percent from 1.02 trillion rubles ($40 billion) to 1.28 trillion rubles ($51.3 billion) and would account for 14 percent of total budget spending," Viktor Zavarzin, chairman of the Defense Committee in Russia's lower house of Parliament stated, RIA Novosti reported.
By 2011 Russia's total defense budget would have expanded by a total of 45.6 percent compared with current levels, he concluded.
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