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Finance minister: Russia’s 2017-2019 budget to ensure army modernization

November 18, 2016, 12:35 UTC+3 MOSCOW
The minister says the volume of arms purchases is not cut
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© Sergei Bobylev/Russian Defence Ministry Press Office/TASS

MOSCOW, November 18. /TASS/. The volume of arms purchases that is recorded in the Russian budget for 2017-2019 years is not cut, which will ensure the modernization of the Armed Forces, Finance Minister Anton Siluanov said speaking at the plenary session of the State Duma (lower house of parliament)

At the session the lawmakers are considering the budget for the 2017-2019 in the first reading.

"Spending on defense is one of the priorities, the volume of purchases of arms and military equipment is not reduced despite all the difficulties," he said.

Earlier it was reported in an explanatory note to the budget, that budgetary allocation under the National Defense section as a whole will amount to 2.8 trillion rubles ($43 bln) in 2017, 2.7 trillion rubles ($41 bln) in 2018 and 2.8 trillion rubles ($43 bln) in 2019.

In relation to GDP, the share of spending on national defense will be 4.7% in 2016, 3.3% in 2017, 3% in 2018, 2.8% in 2019.

The share of defense in total federal budget spending in 2017 will amount to 17.5%, in 2018 and 2019 it will be 17% and 17.6%, respectively.

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