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Russia’s 2017-2019 budget provides for army modernization

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Russia’s 2017-2019 budget provides for army modernization

The Russian budget for 2017-2019 doesn’t imply cutting expenses on arms purchases, what will ensure the modernization of the Armed Forces.

This is what Russian Finance Minister, Anton Siluanov, announced at a session of the lower house of Russian Parliament, TASS news agency reports on Friday.

According to Anton Siluanov, expenditure on defense is one of Russia’s priorities. He stressed that the current troubles will not cause reduction in purchases of arms and military equipment.

Budgetary allocation is planned to total 2.8 trillion rubles in 2017, 2.7 trillion rubles in 2018 and 2.8 trillion rubles in 2019. Thus, the share of defense expenditure will range between 4.7 per cent and 2,8 per cent over the specified period of time.

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