Russia’s Rostec sees 2016 government defence orders cut by around 10 percent – WSJ interview

Technology

Russia’s Rostec sees 2016 government defence orders cut by around 10 percent – WSJ interview

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March 11, 2016

Sergey Chemezov, director general of the state corporation for assistance to development, production and export of advanced technology industrial product "Russian Technologies". — Sergey Chemezov, director general of the state corporation for assistance to development, production and export of advanced technology industrial product “Russian Technologies”.

Russia’s government will cut its defence orders by about 10 percent this year, Sergei Chemezov, the head of Russia’s industrial conglomerate Rostec, said in an interview with the Wall Street Journal published on Friday.

“There will be a reduction. There already is one,” Chemezov said. “I think government defence orders will be reduced by about 10 percent.”