Russia: Defense Budget To Be Cut By 5 Percent, Deputy Minister Says

Russia's defense budget will be cut by 5 percent in 2016, Russian Deputy Defense Minister Tatiana Shevtsova said, Reuters reported March 6. Defense spending has been growing as part of a drive to restore Russia's military might. However, the decision to cut shows that even the armed forces are not immune to a slowing Russian economy, which has been hit by falling oil prices and Western sanctions. The 5 percent cut, if approved, would be the biggest reduction in defense spending since 2000 .... https://www.stratfor.com