Putin: “Russia will spend 646 billion dollars for rearmament by 2020 “

Russian Prime Minister Vladimir Putin announced Monday that the government will allocate 646 billion dollars for army modernization by 2020, Reuters.

The armed forces called for increased funding for modernization of weapons systems and aging, which undermines performance in local conflicts after the collapse of the Soviet Union.

“We allocate serious funds, significant for rearmament program. I am afraid to pronounce that in figure: 20 trillion rubles, “Putin said. He continued:” We have finally overcome the consequences of those years when the army and navy have been massively underfunded.”

The new program provides for modernization annually to 11% of military equipment and would allow Russia to increase to 70% share of modern weapons by 2020.

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Posted by M.P.Bogdan on Dec 14 2010. Filed under Featured News, Politics. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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