Russia defence spending to grow 27 pct in '09 - Putin
MOSCOW (Reuters) - Russia's defence spending will grow by 27 percent in 2009, Interfax news agency quoted Prime Minister Vladimir Putin as saying on Tuesday.
"Nearly 2.4 trillion roubles ($94.12 billion) will be allocated for the needs of national defence and security (in 2009)," Interfax quoted Putin as saying. "This is an increase of 27 percent."
In a brief war last month, Russia crushed an attempt by pro-Western neighbour Georgia to retake South Ossetia, a breakaway region closely tied to Moscow.
President Dmitry Medvedev and Putin have said the military operation, condemned by the West as disproportionate, has shown the armed forces needed a major modernisation of their weapons and hardware.
Putin made his announcement on the day when Russian stocks plunged more than 10 percent to two-year lows, driven by turmoil on international markets and domestic concerns including the war in Georgia.
© Thomson Reuters 2009 All rights reserved
One Year Later
Mumbai held tearful memorials and police staged a show of strength as it marked the first anniversary of militant raids that killed 166 people and pushed up tensions with Pakistan. Slideshow | Full Coverage
Liberhan Commission Report
The government published a long awaited report, recently leaked, accusing BJP leaders of a role in the 1992 destruction of the Babri mosque in Ayodhya. Full Article
