Russia spends $1.1 bln annually on defense industry - govt.
15/03/2007 14:41 MOSCOW, March 15 (RIA Novosti) - Russia spends about 30 billion rubles ($1.1 billion) a year on its defense industry, the head of Russia's Federal Industry Agency said Thursday.
Boris Alyoshin said the volume of funding funneled to the defense industry has increased "enormously' since 2003, to 30 billion rubles ($1.1 billion) a year starting in 2006.
But he said the "entire work pattern of the Russian [defense] industry is obsolete," and that no effort should be spared to enable "Russia to complete on the world market as a full-fledged player."
A federal reform program for Russia's defense industry, adopted in 2006, aims to build additional industrial capacity and advance military-technical cooperation with other countries.
Sergei Ivanov, first deputy prime minister who also heads the Military-Industrial Commission, said Wednesday that Russian defense companies will provide 201 billion rubles ($7.7 billion), or 40% of the financing required, to reform the country's defense industry.
|
NEWSLETTER
|
| Join the GlobalSecurity.org mailing list |
|
|
|
