Russian military expenditure set to rise by 30% in 2015

Russian military expenditure is set to rise by 30% next year to hit  a record post-Soviet high of  RUB 3.3trn ($62bn). Most of it will be used to buy more aircraft, submarines, missiles and weapons.  The increase, which takes Russia’s spending on defence to 4.2%of GDP and is part of a $375bn rearmament drive that aims to supply 70% of the country’s armed forces with modern equipment by the end of the decade. St Petersburg Times