Economic Crisis in Russia 20 Percent Reduction in Military Spending

Economic crisis in Russia - 20 percent reduction in military spending

Economic crisis in Russia - 20 percent reduction in military spending
Economic crisis in Russia - 20 percent reduction in military spending

Moscow: Russia, which is part of the world's super powers, has announced a 20 per cent reduction in military spending due to western sanctions and recession. According to a report, this is the first major drop in military expenditure in nearly two decades. Despite the Flexing of its military muscles across the world with the occupation of the Crimea Peninsula of Ukraine in 2014, in support of separatists in Eastern Ukraine and its involvement in the Syrian Civil War in 2015, the Stockholm International Peace Research Institute said in a report released on May 1 That Moscow is forced to cut military spending, which raises questions on operational in the future.

The report says that recent cuts in military expenditure have also been made due to economic crisis. Including the fall in oil prices in 2014, two years downturn, and the same year Western restrictions imposed on Russia's aggression in Ukraine. It has been said in the report that the military spending cuts in Russia has happened at the time when there is an atmosphere of cold war in the world, due to which the United States, China and Saudi Arabia have increased the expenditure on their army. The report said that global military spending has increased by 1 percent to $ 1.74 trillion, while Russia's spending dropped 20 percent to $ 66.3 billion.

From this, Russia has fallen to the fourth position in the ranking of the world's largest military expenditures. Saudi Arabia spends the most on its army. The Arab world is ranked first in this ranking. In Russia first, military spending was cut in 1998. At that time the Russian economy had collapsed and the debt was increased on it. This year, Vladimir Putin took over as the Prime Minister and became President on New Year's Eve.
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