President Putin: "Russia is not cutting defense spending."

Speaking at his Novo-Ogarevo residence on the outskirts of Moscow on the afternoon of August 14, President Vladimir Putin declared that Russia would not cut defense spending.

According to President Putin, the Russian government will not cut spending to maintain its defense capabilities and implement new rearmament programs, despite the enormous expenses Russia is currently allocating to hosting the Asia-Pacific Economic Cooperation (APEC) summit in Vladivostok next September, the 2013 World Youth and University Games (Universiad-2013) in Kazan, and the 2014 Winter Olympic Games in Sochi.

Putin emphasized that this is a top national priority and stated that the total cost of these programs between 2011 and 2020 amounted to 20.7 trillion rubles (nearly $650 billion), of which 79% was allocated to purchasing new, modern weapons.

He added that the branches of the military prioritized for new weaponry include strategic nuclear forces, space vehicles, intelligence, communications, navy, and air defense.

According to (Vietnam+) - DT