Friday, August 19, 2005
Russia institutes Sharp Military Spending Hike!
Moscow (AFP)Russia has added another substantial increase in defense spending next year to pay for across-the-board military upgrades, development of new weapons systems and improved social benefits for defense-sector employees, news agencies said Wednesday.
A draft 2006 budget allocates 668.3 billion rubles (24 billion dollars, 19.5 billion euros) for spending on national defense, an increase of nearly 22 percent on this year's defense budget and a figure equivalent to about 2.75 percent of Russia's projected gross national product.
The draft 2006 budget heralds a third consecutive year of significant increase in Russian defense spending in real terms, and came as President Vladimir Putin reiterated that upgrading the country's armed forces remained a priority of his presidency.
"In the past two days, Putin has underscored the priority his administration attaches to rebuilding Russian defenses.
WoW......You can almost hear the bullet sliding into the chamber as it's being aimed at our heads!