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    Uzbekistan World Money

    Uzbekistan and Russia defense ministries discuss budget expenditure for armed forces

    Uzbekistan and Russia defense ministries discuss budget expenditure for armed forces

    Representatives from the financial-economic blocs of the Defense Ministries of Uzbekistan and Russia convened a meeting on July 1 to discuss budget execution for the maintenance of their national armed forces and military pensions as reported by the Russian Ministry of Defense.

    Meeting between Russia and Uzbekistan Defense Ministries
    Photo credit / Russian Ministry of Defense 

    The primary focus was the formation and execution of budgets dedicated to the upkeep of the national armed forces and the provision of pensions for military personnel. This dialogue highlights the importance both countries place on ensuring the financial stability and welfare of their military establishments.

    During the discussions, both parties delved into the specifics of their respective budgetary practices. The Russian Ministry of Defense highlighted its approach to budgeting, emphasizing efficient allocation of resources to maintain operational readiness and support for military personnel through robust pension schemes. Representatives from Uzbekistan shared their methodologies and sought insights to enhance their own financial strategies.

    Russia and Uzbekistan Defense Ministries meeting
    Photo credit / Russian Ministry of Defense 
    Beyond the immediate budgetary concerns, the meeting also served as a platform to discuss further deepening bilateral cooperation. The representatives explored avenues for exchanging experiences and best practices in planning and ensuring military expenditures. This exchange is expected to bolster the financial management capabilities of both defense ministries, enhancing their ability to support and sustain their armed forces.

    The working meeting between the financial-economic blocs of the Defense Ministries of Uzbekistan and Russia marks a significant step in their bilateral relations. By focusing on budget execution, military pensions, and deeper cooperation, both nations are set to enhance their military capabilities and ensure the welfare of their personnel.

    As reported by Daryo earlier, according to PowerIndex assessment, Uzbekistan's defence budget stands at $796.8mn with military personnel strength of 68,000, with 48,000 actively serving. Whereas Russia's defence budget stands at over $1bn having military personnel strength of 3,570,000 with 1,320,000 actively serving.

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    03.07.2024, 11:03   Comments (0)   1119
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