Saturday, 21 April 2012

Russia becomes world's third largest defense spender

he Russian Federation is ranked third in the world in terms of the spending on the army. This was stated at SIPRI's report about the spending of world's leading economies on arms procurement. According to SIPRI's experts (The Stockholm International Peace Research Institute), the Russian Federation increased the spending on the army by more than nine percent in 2011. Russia's army spending thus totaled $72 billion. The amount put Russia ahead of France ($62.7 billion) and Britain ($62.5 billion). China comes second on the list with $143 billion, whereas the first place belongs to the United States - $711 billion. Unlike Russia and China, the previous six leaders cut their arms procurement spending to save budget funds, the Vedomosti wrote. In 2010, the list of six leaders included Brazil, France, Germany, India, Britain and the USA. In 2011, Russia and China made France and Britain move. China's defense spending increased by 6.7 percent. "China's extensive and growing trade relations with the countries in its neighbourhood have been marred by disputes - eg the border dispute with India, a dispute over the Senkaku (Diaoyu) islands with Japan, and contested maritime borders with several nations in the South China Sea - all of which have led to increased tensions," the report said. The top ten list also increased Japan ($59.3 bn), India ($48.9 bn), Saudi Arabia ($48.5 bn), Germany ($46.7 bn) and Brazil ($35.4 bn). The global defense spending made up $1.7 trillion in 2011, SIPRI said.

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