Russian military budget to reach all-time high in 2015

russian militaryThe national defense budget of Russia is set to reach a record high of 3.3 trillion rubles ($81 million US) in 2015.

The news broke after official figures stating next year’s budget were released by the Kremlin this week. The new figures marks a $20 billion increase over 2014’s budget, leading to concerns of Russia further attempting to expand its military powers.

These new figures now put Russia’s defence budget as 4.2% of the entire countries annual spending. According to the Moscow Times most nations in the world spend less than 3% of their annual budget on military, meaning that Russia now stands as one of the highest military spenders in the world.

The news comes also after the US announced it would be lowering its military budget after a 2010 high of 4.7% of GDP.

The new figures have led to fresh fears that following recent actions in Ukraine Russia may be preparing for further military action. The Kremlin earlier this month announced that they would be withdrawing troops from the Ukrainian border, though many critics have raised concerns that authorities may be preparing in other regions.

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