Russian Defense Spending Drops For the First Time Since The 1990s

© Sputnik/ Iliya Pitalev

Sputnik: Russia's 2016 Defense Spending Declines for 1st Time Since 1990s

Russian military spending has declined in 2016 for the first time since the 1990s, UK media reported on Monday.

MOSCOW (Sputnik) – Global defense spending has increased by 1 percent in 2016, even taking into consideration the first decline in military expenditures of Russia in more than 15 years, the Financial Times newspaper reported, citing an annual report conducted by Jane`s Defence Budget company.

The newspaper added that at the moment Russia's defense budget is the seventh in the world, after the ones of the United States, China, India, the United Kingdom, Saudi Arabia and France, and is estimated at $41.1 billion.

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Update #1: Russia drops out of world's top 5 defense spenders (UPI)
Update #2: Russia drops out of world’s top 5 defense spenders for 1st time in 30 years (RBTH)

WNU Editor: As I had mentioned earlier this year .... its all about the Russian economy .... Russian Defense Budget To Be Cut By 5% In 2016 (March 6, 2016). More here .... The Declining Russian Defense Budget (October 27, 2016).