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Image copyright AFP Image caption China will also increase its military spending
Russian military spending will rise by a fifth to $52bn (£32bn) this year, state-run media are reporting, after the Russian economy faltered and a slump in oil prices boosted Russia’s trade in oil.
The figure comes a day after the defence ministry said Russia would need $10 billion in military and foreign aid next year, which will push the budget to $49bn for 2014, its first increase since 2006 and a far cry from the $62bn spent in 2013.
The cost of Russia’s military forces has also been falling recently, although that’s more a result of a steep fall in gas prices.
The move will raise Russia’s military spending to about 13% of GDP in 2014, up from about 9% last year, and will help to provide the defence forces with more resources to tackle new threats, defence minister Sergei Shoigu said.
Media playback is unsupported on your device Media caption Russian PM Dmitry Medvedev: “The army will return to its former strength”
Image copyright AFP Image caption Russia has had a troubled relationship with the US since the Cold War era
Image copyright EPA Image caption The Russian economy has been struggling since 2010 amid a fall in oil prices
Mr Shoigu said Russia “will spend more than four times more at home in the defence sector”.
“We are now able to make the necessary investments, which are necessary to help Russia regain its former military strength,” he said, as quoted by Interfax news agency.
Russia’s budget for 2014-15 in 2014, which starts in April, is forecast to be $55bn, the state defence council has said. It will be made up of $44.3bn of funding for military spending and $36.2bn for foreign affairs and trade.
In 2013 the defence budget increased by about 10%, while spending on energy, industry and tourism increased by about the same percentage.
In 2013, Russia’s Defence Minister Sergei Shoigu said that the Russian armed forces were “fully capable” of repressing any aggression.
But the report, on Tuesday, indicated that the defence
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