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Russia to spend $16.7bn on arms industry in 2016-20

MOSCOW, May 30, 2016

Russia will spend around 1.1 trillion roubles ($16.7 billion) on its military manufacturing sector in the 2016-2020 period, Tass news agency quoted Russian Deputy Prime Minister Dmitry Rogozin as saying on Monday.

Russia is currently the second-largest arms exporter in the world and it should retain this position, RIA news agency quoted Prime Minister Dmitry Medvedev as saying during a meeting with his deputies. - Reuters




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