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Friday, July 30, 2010

Russia's defense spending to rise by 60% by 2013

Mistral-class Amphibious assault shipRussian defense spending will increase by 60 percent, to more than 2 trillion rubles ($66.3 million) from 1.264 trillion ($42 million) by 2013, a leading Russian business daily said on Friday.

The Russian government made the relevant decision during a meeting on Thursday. The largest growth is planned for 2013, when the figure will rise by 0.5 trillion rubles ($16.6 million), Vedomosti reported.

Konstantin Makiyenko from the Russian Center for Analysis of Strategies and Technologies (CAST) told the paper that the government is likely to spend more on the Navy, as well as the aviation and space industries.

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