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11-19-2009, 11:33 AM
Russian Defense Funding Level Unprecedented: Putin
By AGENCE FRANCE-PRESSE
Published: 18 Nov 2009 16:56
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MOSCOW - Russia has provided an "unprecedented" 970 billion rubles (22.6 billion euros, $33.8 billion) to its defense industry this year, Prime Minister Vladimir Putin said Nov. 18.
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 rubles," 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 defense sector had remained buoyant.
Speaking on a visit to the town of Kolomna, around 100 kilometers (60 miles) south east of Moscow and home to one of Russia's main missile production sites, Putin warned it was vital the sector modernized.
"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.
By AGENCE FRANCE-PRESSE
Published: 18 Nov 2009 16:56
Print Print | Print Email
MOSCOW - Russia has provided an "unprecedented" 970 billion rubles (22.6 billion euros, $33.8 billion) to its defense industry this year, Prime Minister Vladimir Putin said Nov. 18.
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 rubles," 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 defense sector had remained buoyant.
Speaking on a visit to the town of Kolomna, around 100 kilometers (60 miles) south east of Moscow and home to one of Russia's main missile production sites, Putin warned it was vital the sector modernized.
"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.