Support The Moscow Times!

Putin Stresses Need to Re-Profile Military Plants After Defense Spending Surge

President Vladimir Putin said Thursday that although the country's defense sector was undergoing "unprecedented" expansion, such manufacturers risk becoming "oversized and unneeded" if state funding dries up.

Putin said in his annual State of the Nation address that the $700 billion set aside to modernize Russia's weaponry would keep such manufacturers at full capacity until the program concludes in 2020.

After 2020, defense enterprises must ensure that they "can eventually switch to producing consumer products demanded on domestic and foreign markets," he said.

Putin noted that the defense sector employs about 2 million people who are the breadwinners for about 7 million.

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.