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Russia to Cut Defense Spending to 2.7-2.8% of GDP

© Photo : Russian Defence MinistryA group of officers from the Russian Defense Ministry's Special Operations Forces
A group of officers from the Russian Defense Ministry's Special Operations Forces - Sputnik International
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Vladimir Putin said that Russia will reduce defense spending in the next three years to 2.7-2.8 percent of GDP.

Pantsir-S1 antiaircraft gun / surface-to-air missile system displayed in the run-up to the Army-2015 international military-technical forum in the Moscow Region - Sputnik International
Russian Defense Ministry Signs Pantsir-S Delivery Contract
WASHINGTON (Sputnik) — Russia will reduce defense spending in the next three years to 2.7-2.8 percent of GDP, President Vladimir Putin said.

"There is an understanding that an effectively functioning economy is a priority for the state. Therefore, the army must be compact, but modern and effective. But we are already spending quite a lot. These expenses reached more than three percent [of GDP] last year," Putin told US filmmaker Oliver Stone in a third part of the interview broadcast by the Showtime television network.

"It will return gradually to 2.7-2.8 percent of GDP in the next three years," Putin stressed.

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