Military budget of the Russian Federation: Difference between revisions

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In 1988 military spending was a single line item in the Soviet state budget, totaling 21 billion rubles (68.8 billion 1988 U.S. dollars). Given the size of the military establishment, however, the actual figure was considered to be far higher. However, in the wake of the breakup of the Soviet Union and the emergence of Russian Federation as an independent state, between 1991 and 1997 Russia's defence spending fell by a factor of eight in real prices.<ref>{{cite book |title=The Armed Forces of Russia in Asia |last=Austin |first=Greg |authorlink= |author2=Alexey Muraviev |year=2000 |publisher=I.B. Tauris |location=London, New York |isbn=1-86064-485-6 |oclc= |page=155 }}</ref> Between 1988 and 1993 weapons production in Russia fell by at least 50% for virtually every major weapons system.
In 1998, when Russian Federation [[1998 Russian financial crisis|experienced a severe financial crisis]], its military expenditure in real terms reached its lowest point— barely one-quarter of the USSR's in 1991, and two-fifths of the level of 1992, the first year of Russia's independent existence. However, since the rise to power of [[Vladimir Putin]] and the exposure of the poor state of preparedness amongst Russia's armed forces in the [[Chechen–Russian conflict#Post-Soviet era|Chechen War]]s and the 2008 invasion of Georgian territories (e.g., [[South Ossetia]]), Russian military spending has rapidly increased, particularly after the [[2008 Russian military reform]]. According to SIPRI, Russian military spending in real terms in 2012 was the highest it has been since Russian Federation's re-emergence as an independent nation, but is still far lower than the estimated military expenditure of the USSR in 1990 - its final full year of existence (US$291 billion at 2012 prices).<ref name="auto1">{{cite web|last=Toohey |first=Nathan |title=Russia's defense spending grows to third largest in the world |url= |publisher=Moscow Times |accessdate=1 March 2014 |url-status=dead |archiveurl= |archivedate=5 March 2014 }}</ref> The budget expanded from 1998 until 2015, but economic problems including a sharp decline in the oil price mean it will be cut by 5.3% in 2016 despite analysts saying that large increases are required to fund the current equipment plans and accommodate high rates of inflation; the navy may be the most likely victim of cuts.<ref>{{cite news | url= | title=Russia's defence budget hit by slowdown | first=Kathrin | last=Hille | newspaper=Financial Times | date=15 October 2014 | access-date=2014-10-28 | archive-url= | archive-date=2014-10-20 | url-status=live }}</ref>
==Comparison with other countries==
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