The Russian Finance Ministry proposed cutting down funding for the state arms program by 5% within the next five years, due to the economic problems caused by the COVID-19 pandemic.
The military spending may be reduced by RUR 225 bln ($3.1 bln) total, RBC reports. The current state arms program expires in 2027 and provides for such projects as the S-500 missile system, the Sarmat and Rubezh ballistic missiles.
Development of armored vehicles based on the Armata and Bumerang platforms is also included in the program. Latest fighter jets and bomber aircraft will be supplied to the armed forces; cruisers and helicopter carriers will be developed.
Every year, RUR 1.5 trln ($21 bln) is allocated for the state defense order. Latest armament accounts for 60% of the Russian Armed Forces’ equipment. Experts note that reducing the state program funding is due to the difficult economic situation in the country.