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Russia to earmark 35 billion U.S. dollars for defense procurement in 2012: deputy DM

(Xinhua)

08:27, November 25, 2011

MOSCOW, Nov. 24 (Xinhua) -- Moscow plans to spend some 1.1 trillion rubles (35 billion U.S. dollars) on arms purchases in 2012, up 17 percent from the previous year, Deputy Prime Minister Sergei Ivanov said Thursday.

The total allocation for defense procurement would reach some 6 trillion rubles (191.17 billion dollars) in the next three years, Ivanov said at a meeting of Russia's Military-Industrial Commission.

He noted that the increase in Russia's allocations for defense purposes in next three years was "significant."

In recent years, Russia's allocations for defense purposes have increased markedly due to the government's rearmament program proposed in 2008, which envisages an allotment of 20 trillion rubles (720 billion dollars) until 2020.

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