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.

… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Continue

Read more