Tuesday, July 7, 2020

SIPRI: Russia’s military spending fell for the first time since 1998

Recommended

Russia discloses new details of electromagnetic pulse cannon

Russian defense industry sources have disclosed the new details of the electromagnetic pulse cannon capable of hitting targets 6 miles away. The new super cannon...

Russia develops new radar for tracking hypersonic-speed threats

The 'Krasnaya Zvezda' newspaper cited Russia’s Aerospace Force Commander-in-Chief Colonel General Sergei Surovikin as saying that Russian specialists are developing a new radar system...

Russian fighter jets again intercept U.S. spy plane as it flew close to Crimea

Russian SU-27 fighter aircraft scrambled on Wednesday to intercept U.S. Air Force RC-135 Rivet Joint spy plane flying over the Black Sea. The Russian defense...

Russia denies that Washington could buy Turkey’s S-400 systems

The Russian Federal Service for Military Technical Cooperation has denied that U.S. would be able to buy Turkey’s Russian-made S-400 air defense system under...

Ukraine fears Russia will use massive military exercises to invade

Deputy Minister for Foreign Affairs of Ukraine Vasyl Bodnar said that Ukraine needs to be mentally prepared for the fact that Russia will not...

The Stockholm International Peace Research Institute (SIPRI) reported that while global military spending rose by 1 percent to $1.74 trillion, Russia’s spending fell 20 percent to $66.3 billion, the report said.

According to SIPRI’s data – Russia’s military spending fell for the first time since 1998, while spending by the United States remained constant for the second successive year.

Spending falls sharply in Russia, but rises in Central and Western Europe, said Siemon Wezeman, Senior Researcher with the SIPRI AMEX programme. The Kremlin said in March that Russia would cut its defense budget to less than 3 percent of gross domestic product within the next five years.

More: France to hike defence spending more than a third

At $66.3 billion, Russia’s military spending in 2017 was 20 per cent lower than in 2016, the first annual decrease since 1998. ‘Military modernization remains a priority in Russia, but the military budget has been restricted by economic problems that the country has experienced since 2014,’ noted Siemon Wezeman.

More: Denmark will increase defence spending to counter Russia’s military activity in Europe

Driven, in part, by the perception of a growing threat from Russia, military spending in both Central and Western Europe increased in 2017, by 12 and 1.7 per cent, respectively. Many European states are members of the North Atlantic Treaty Organization (NATO) and, within that framework, have agreed to increase their military spending.

Total military spending by all 29 NATO members was $900 billion in 2017, accounting for 52 per cent of world spending.

If you wish to report grammatical or factual errors within our news articles, you can let us know by using the online feedback form.

Executive Editor

TRENDING NOW

U.S. Army looks to buy Soviet-made special ammunition and weapon systems

The U.S. Army is buying an unspecified number of the Non-NATO standard ammunition and Soviet-era weapon systems, according to a government’s main contracting website...

U.S. Air Force B-52H Stratofortress arrives in Guam

The U.S. Air Force has deployed B-52H Stratofortress nuclear-capable bomber Andersen Air Force Base, Guam on July 4. The B-52H Stratofortress bomber, assigned to the...

Russia discloses new details of electromagnetic pulse cannon

Russian defense industry sources have disclosed the new details of the electromagnetic pulse cannon capable of hitting targets 6 miles away. The new super cannon...

Serbia receives Chinese-made unmanned combat aerial vehicles

Ministry of the defense Republic of Serbia has taken delivery of the first CH-92A unmanned combat aerial vehicles from China. The surveillance and reconnaissance unmanned...

Related News

U.S. Air Force’s next-generation refueling tanker aircraft perform an elephant walk

Ten U.S. Air Force's refueling tanker aircraft, includes eight newest KC-46A Pegasus and two KC-135s, were a part of Wednesday’s elephant walk exercise at...

Pentagon awards $2.3 billion contract for advanced missile defense radars

The U.S. Missile Defense Agency awarded a massive production contract to Raytheon Missiles & Defense, worth up to $2.3 billion, for seven gallium nitride...

Ukrainian Army takes delivery of BTR-4E armoured personnel carriers

The Minister of Defence of Ukraine has taken delivery of another batch of BTR-4E armoured personnel carriers, Ukraine’s state-owned defense conglomerate UkrOboronProm announced on...

U.S. Army gets new compact sniper system

Last month, Soldiers from the 1st Armored Brigade Combat Team, 3rd Infantry Division became the first combat troops to receive a cutting edge compact...