Russia increases space industry spending through 2020

Reuters : Prime Minister Dmitry Medvedev approved 2.1 trillion rubles ($68.71 billion) in funding for Russia’s space industry through 2020. Averaging out to some 260 billion rubles a year, this is a significant increase over the annual funding in recent years. In 2010 and 2011, Russia budgeted just 100 billion rubles annually for its space programs. And the budget increase comes in the face of two major launch failures since 2011 of the workhorse Proton rocket system. After the loss of a rocket carrying two communications satellites in August, Medvedev criticized the Russian space industry for causing the nation to lose prestige and foreign investment. When announcing the expanded funding, Medvedev said that it will further Russia’s participation with the International Space Station (ISS) and the exploration and study of the Moon, Mars, and other bodies in the solar system. Some of the funding will come from outside of the state budget; currently the US is paying Russia $60 million per resupply launch to the ISS and will continue to do so until at least 2017.