Russia Plans to Spend $613 Billion to Purchase New Weapons

Russia plans to spend 19 trillion rubles ($613 billion) to purchase new weapons over the next decade as it seeks to modernize its Soviet-era Army, Defence Minister Anatoly Serdyukov said in an interview released on Sept. 21.The government is in the process of approving a plan to ramp up the arms budget for 2011-2020 by 46 percent from the previous estimate of 13 trillion rubles, Serdyukov told Bloomberg news agency in an interview.

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Posted in: Russia