All contracts on Russia's 2012 defense order to be signed by yearend

All contracts on Russia's 2012 state defense order will be signed by the end of this year, Defense Minister Anatoly Serdyukov said. The issue of next year's defense order is particularly important in light of possible complications from the 2011 state defense order due to soaring armament prices and delays in contract signing.

Russia's ambitious 2011-2020 arms procurement program stipulates the upgrade of up to 11% of military equipment annually and will allow the country to increase the share of modern weaponry in the Armed Forces to 70% by 2020.

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Posted in: Russia