MOSCOW, April 21. /TASS/. The financing of Russia’s system of Defense Procurement and Acquisition totaled 1.9 trillion rubles ($35.34 bln) in 2014, up from 1, trillion rubles ($27.9 bln) in 2013, Prime Minister Dmitry Medvedev said on Tuesday.
According to him, the government provided guarantees on loans taken by the enterprises of the defense-industrial sector to complete orders worth more than 470 bln rubles ($8.7 bln).
- Putin decrees to eliminate two state defense and arms procurement bodies
- Russia’s amendments to state defense order law to establish control of budget spending
- Budget spending optimization not impacting state defense order, armaments programs — Putin
- Putin generally satisfied with Russia state defense order situation
- All planned state defense order targets for 2014 almost fully met — Putin
The Defense Procurement and Acquisition has finally started functioning and its functioning smoothly, Medvedev said.
Since 2013, the production growth was registered in all branches of the defense industrial sector, the Prime Minister said.
In particular, the production grew by 24% in radio electronic industry, by 17% in aircraft building, by almost 15% in ship building. In production of ammunition the growth was 13%. In space industry the growth was 8.5%. The production of conventional weapons rose by 5.4%. The share of hi-tech products in total production of the defense sector rose to 63% in 2014, Medvedev said.
