7 Oct 2011 13:11

Russia to spend 440 bln rubles on defense sector modernization in 2012-2014 - Putin

MOSCOW. Oct 7 (Interfax) - Russian Prime Minister Vladimir Putin has pledged to allocate 440 billion rubles for a program aimed at providing enterprises of the country's defense industry with new equipment.

"We have already earmarked all of the funds needed for the technical re-equipment of defense industry enterprises in the draft federal budget for 2012-2014. All in all, we plan to spend 440 billion rubles within the next three years," Putin said at a defense industry session.