Russian defence funding at 'unprecedented' level: Putin

Space War ^ | The Strategy Page | The Strategy Page via AFP

[ErnstStavroBlofeld]

Russia has provided an "unprecedented" 970 billion roubles (22.6 billion euros, 33.8 billion dollars) to its defence industry this year, Prime Minister Vladimir Putin said Wednesday. State support for the sector had helped it grow by 3.8 percent since the start of the year despite the economic downturn, Putin said in comments reported by Russian news agencies.

"During the recession we have allocated enough money to the military-industrial sector, which is a priority for government support. In 2009 funding reached an unprecedented level for our country: almost 970 billion roubles," Putin said.

State aid had taken the form of reduced-rate loans and guarantees as well as direct subsidies, he said.

While Russian industry generally had declined during the global financial crisis, he said, the defence sector had remained buoyant.

Speaking on a visit to the town of Kolomna, around 100 kilometres (60 miles) south east of Moscow and home to one of Russia's main missile production sites, Putin warned it was vital the sector modernised.

"Under our plan, the proportion of modern weapons and technology used by the army must radically increase between now and 2020," he said.

"We need modern, forward-looking equipment," he said.

On November 12 Russian President Dmitry Medvedev said the armed forces would get new missiles and nuclear submarines from 2010.

[Soothesayer9]

And Obama fiddles.

I would like to see Obama and Palin in a boxing match.

[Free Vulcan]

Isn’t that about $5000 American?

Seriously though, the Bear is rearming.

[Republic of Texas]

How ‘bout that? A little Capitalism brings in a whole lot of money! Whooda thunk that?

[Centurion2000]

Seriously though, the Bear is rearming.

Of course it is. China is going to reaching for land and resources like never before in the mid future (5-10 years) now that America has lost her teeth.