Russia ranks fourth in terms of military spending / Photo from masterok.livejournal.com
Head of the Federal Service for Military-Technical Cooperation (FSMTC) Alexander Fomin forecasts that Russian arms exports in the next 2-3 year will remain around $15 billion, according to Russian news agency TASS.
"As for last year’s exports, you probably already know, the plan was slightly exceeded in spite of all objective difficulties. We hope that this level remains for the next 2-3 years," Fomin said on Sunday, TASS wrote.
He added that he hopes the level remains at $15 billion.
As UNIAN reported earlier, world military expenditure totaled almost $1.7 trillion in 2015, an increase of 1% in real terms from 2014, according to new figures from the Stockholm International Peace Research Institute (SIPRI).
Read alsoSIPRI: World military spending resumes upward courseThe United States remained by far the world's biggest spender in 2015, despite its expenditure falling by 2.4% to $596 billion. Among the other top spenders, China's expenditure rose by 7.4% to $215 billion, Saudi Arabia's grew by 5.7% to $87.2 billion—making it the world's third-largest spender—and Russia's increased by 7.5% to $66.4 billion.