Search: Look for:   Last 1 Month   Last 6 Months   All time
Home :: World

Russia reduces defence spending due to economic crisis

Russian Federation,Defence/Security,Business/Economy, Wed, 02 Nov 2016 IANS

Moscow, Nov 2 (IANS) Russia said that it will reduce its defensive expenditures as well as national security spending in the next three years due to the current economic crisis.

Ernest Valeev, Deputy Head of the Security and Anti-Corruption Committee of the Duma (lower house), said on Tuesday the budget allocations for national security and the activities of law enforcement agencies will also experience a small annual cut, Efe news reported.

Thus, he said, defence spending this year will represent 2.3 per cent of GDP, while in 2017 it will be 2.2 per cent, 2 per cent in 2018 and 1.9 per cent in 2019.

Apparently, there will not be cuts in the salaries of the military, a section that Russian President Vladimir Putin considered untouchable, along with the aerial campaign in Syria.

Rearmament programs will also not be affected, as the head of Kremlin ordered the government last September to prepare a new plan about it until 2025, which will complement the already existing one, whose main objective is to maintain nuclear parity with the US.

--IANS

pgh/


LATEST IMAGES
Manohar Lal being presented with a memento
Manoj Tiwari BJP Relief meets the family members of late Ankit Sharma
Haryana CM Manohar Lal congratulate former Deputy PM Lal Krishna Advani on his 92nd birthday
King of Bhutan, the Bhutan Queen and Crown Prince meeting the PM Modi
PM Narendra Modi welcomes the King of Bhutan
Post comments:
Your Name (*) :
Your Email :
Your Phone :
Your Comment (*):
  Reload Image
 
 

Comments:


 

OTHER TOP STORIES


Excellent Hair Fall Treatment
Careers | Privacy Policy | Feedback | About Us | Contact Us | | Latest News
Copyright © 2015 NEWS TRACK India All rights reserved.