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. Last Updated: 07/27/2016

Budget Earmarks $7Bln for Defense

Nearly 30 percent of Russia's budget for this year has been earmarked for defense and law and order, Prime Minister Sergei Stepashin said.

Stepashin, meeting with directors of defense enterprises, said Saturday that 164 billion rubles ($6.7 billion), or 28.5 percent of the total budget, was targeted for defense-related spending, Itar-Tass reported.

The meeting was attended by Defense Minister Igor Sergeyev, Deputy Prime Minister Viktor Khristenko and Deputy Prime Minister Ilya Klebanov, who is in charge of the military industrial sector in the government.

Stepashin said that 40 percent of the budget would have been appropriated for the military-industrial sector, but Russia had to use the money to service its foreign debt.

The prime minister said the government was setting up a commission to determine the membership and function of the military-industrial sector, which had received only 25 percent to 30 percent of its promised funding in recent years.