Russia has doubled the funding for its comprehensive military rearmament program over the decade.
Deputy Defense Minister Vladimir Popovkin said on Monday that about 20 trillion rubles would be allocated for state armaments program for 2011-2020. The amount and schedule of annual refinancing would be finalized after consulting with the Finance Ministry, he added.
Popovkin also announced a state arms procurement program, under which Russian military plans to buy 70 fifth-generation fighter jets beginning in 2013. They will be tested by the Air Force in 2015, he told reporters.
Aiming to increase the combat readiness of the Russian armed forces, President Dmitry Medvedev announced last year plans for comprehensive military rearmament beginning 2011.
Higher oil revenues in recent years have allowed the Kremlin to increase the military budget.
Most of the country's weaponry was old and obsolete, with modern equipment accounting for only 10 per cent.
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