Russian defense spending to stand at 2.8% of GDP in coming years - Medvedev
MOSCOW. March 20 (Interfax) - At least 2.8% of GDP will be spent on national defense in Russia over the period up to 2020, President Dmitry Medvedev said.
"The development of the Armed Forces remains a priority of the state's policy. Considerable funds amounting to at least 2.8% of GDP will be allocated for national defense over the period up to 2020," he said at an expanded session of the Defense Ministry board on Tuesday.
Great attention must be paid to the implementation of the state's weapons procurement program for 2011-2015, as well as efforts to provide the Russian Army and Fleet with advanced weapons systems, the president said.
The share of such arms should increase to 30% by 2015, and 70% and 100% by 2020, he said.
"Serious budget funds - more than 23 trillion rubles - have been allocated for this program," Medvedev said.
