Global General

Russia vows huge military, space investments

(Xinhua)
Updated: 2011-04-28 08:22

MOSCOW - Russia's defense and space industries would get huge investments under current development programs, President Dmitry Medvedev said Wednesday.

During a trip to a local college in the Moscow region, Medvedev said the government will support the military-industrial complex in financing the industries.

"Money will be invested into the country's military-industrial cluster. It will be taken not from the budget but from these plants' own business activity," Medvedev was quoted by Interfax news agency as saying.

Medvedev warned, however, that the changes should not be expected to happen within one or two years.

According to the government's development program of military-industrial complex, by 2020 the state will invest 20 trillion rubles (about US $720 billion) into modernization of the Russian weaponry.