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    Russian President Vladimir Putin attends his annual end-of-year news conference in Moscow, Russia

    Russian National Defense to Be Main Item of Budget Savings - Putin

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    Putin's 2016 Annual Year-End Press Conference (72)
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    Russian national defense section will finance the Russian budget in 2017-2019, Russian President Vladimir Putin said Friday at an annual press conference.

    MOSCOW (Sputnik) — Main savings for the Russian budget in 2017-2019 will come from the national defense section, Russian President Vladimir Putin said Friday at an annual press conference.

    "The main article of budgetary savings will be in the ‘National Defense’ section. When in 2011, we spent 2.7 percent of GDP on the ‘National Defense’ section, this year, for the past five years, we have greatly increased these costs, it is 4.7 percent now, next year it will be 3.3 percent and in 2019 — 2.8 percent of GDP. And for several years we will maintain it [this level of spending]," Putin said.

    Russian President Vladimir Putin on December 23 holds a major end-of-the-year press conference.
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    Putin's 2016 Annual Year-End Press Conference (72)

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