The Russian economy which was in doldrums because of falling oil prices and sanctions by the Western powers has recovered to a certain extent. Information has been supplied by the Stockholm International Peace Research Institute( SIPRI) that in 2016 the Russian Military Budget increased to 69.2 billion dollars.It is now the 3rd largest spender on the military. This is a substantial increase from 2014. At that time, the Russian economy had deteriorated and Russia slipped to the fifth position behind Saudi Arabia and India. Russian president Vladimir Putin can now heave a sigh of relief. The Russians are now going ahead with the modernization of their weaponry which needed an overhaul.

The Russian military budget is way behind the American budget which is 605 million dollars. China comes in a distant second with 211 billion dollars. China also maintains the largest standing army in the world. Saudi Arabia and India are the other nations with big military budgets.

Russian budget

The Russian budget is just a fraction of the American budget. When the top 9 nations budgets are added up, it is less than the America budget. This massive budget gives America a chance to have a military presence all over the world. How effective they have been in the various global conflicts after the Second World War is, however, a point for discussion. Russian military responsibilities are much less and they are only involved in Syria and the Ukraine.

Decline of Russia

During the days of the Soviet Union, Russia had a numerical parity with the USA. With the collapse of the Soviet Union, the great power status also evaporated. Russia became a shadow of its old self. Their economy further declined in 2014, when falling oil prices coupled with economic sanctions saw a negative growth rate. in 2016, Russia has recovered from the recession and adjusted to the sanctions.

This has given Putin a chance to refurbish the Russian military. Russia in its sphere is a very formidable power and America is wary of it. Russia aspires to be a global power. They showcased their power in a military parade in May last year.

Last word

The American expenditure of over 600 billion dollars has been further increased by Trump in 2017. No country can match this military expenditure.

The Russian budget may look smaller than the US but it is 4.5% of the GDP, which is much higher than the American expenditure which is 3.5%.

Don't miss our page on Facebook!