TASS: Russian arms exports to remain around $15 bln in next 2-3 years

Sunday, April 17, 2016 - 22:55 (EEST) Section: Latest news

Head of the Federal Service for Military-Technical Cooperation (FSMTC) Alexander Fomin forecasts that Russian arms exports in the next 2-3 year will remain around $15 billion, according to Russian news agency TASS.
”As for last year`s exports, you probably already know, the plan was slightly exceeded in spite of all objective difficulties. We hope that this level remains for the next 2-3 years,” Fomin said on Sunday, TASS wrote.
He added that he hopes the level remains at $15 billion.
As UaPosition reported earlier, world military expenditure totaled almost $1.7 trillion in 2015, an increase of 1% in real terms from 2014, according to new figures from the Stockholm International Peace Research Institute (SIPRI).
The United States remained by far the world`s biggest spender in 2015, despite its expenditure falling by 2.4% to $596 billion. Among the other top spenders, China`s expenditure rose by 7.4% to $215 billion, Saudi Arabia`s grew by 5.7% to $87.2 billion—making it the world`s third-largest spender—and Russia`s increased by 7.5% to $66.4 billion.