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Russian Military’s Tighter Purse-strings to Impact Operations – Think Tank
Cutting back on military spending to initiate/buttress domestic improvements is a sound economic move at this time.
Related: SIPRI | Global military spending remains high at $1.7 trillion
The Moscow Times
5/2/18
Russian military spending fell by a fifth last year, its first decline in nearly two decades, with tighter purse-strings likely to affect Moscow's military activity ahead, a report by defense think tank SIPRI showed on Wednesday. Russia has flexed its military muscles during the last few years with its 2014 annexation of Ukraine's Crimea and deep involvement in the Syrian conflict serving as examples of its more belligerent stance. But while global military spending rose one percent to $1,739 billion last year, Russia's fell 20 percent in real terms to $66.3 billion, the report from the Stockholm International Peace Research Institute (SIPRI) showed.
President Vladimir Putin has also called for higher living standards and higher spending on social infrastructure, such as healthcare and education. Some government officials have called for lower military spending to free up funds for such initiatives. The Kremlin said in March Russia would cut its defense budget to less than 3 percent of gross domestic product within the next five years. The United States remains the world's biggest military spender by far, accounting for 35 percent of global expenditures, more than the next seven highest-spending countries combined. Its defense budget was unchanged in 2016 and 2017 but a significant rise is expected this year. China's spending as a share of world military expenditure rose to 13 percent last year from 5.8 percent in 2008.
Cutting back on military spending to initiate/buttress domestic improvements is a sound economic move at this time.
Related: SIPRI | Global military spending remains high at $1.7 trillion