On page 2 of the FT today one sees "Russia to curb defence spending." The article says the new budget proposes a 32% increase in defense spending in 2015 followed by a 5.3% decline from that level in 2016, which would still be 25% higher than today. (Russia is aiming to bring 70% of its armaments up to date by 2020.) The article also points out that while Russia had a budget surplus last year, it may have a slight deficit this year.
We can be pleased by how much better we in the west are doing.
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