Russian government's published 2014 military budget is about 2.49 trillion rubles (approximately US$69.3 billion), the fourth largest in the world behind the US, China and Saudi Arabia. The official budget is set to rise to 3.03 trillion rubles (approximately US$83.7 billion) in 2015, and 3.36 trillion rubles (approximately US$93.9 billion) in 2016. As of 2014, Russia's military budget is higher than any other European nation, and approximately 1/7th (14 percent) of the US military budget. In 2015, SIPRI found that Russia was the world's second biggest exporter of major weapons for the period 2010–14, increasing exports by 37 per cent. India, China and Algeria accounted for almost 60 percent of total Russian exports. Asia and Oceania received 66 percent of Russian arms exports in 2010–14, Africa 12 percent and the Middle East 10 percent. In 2017, Russia was reported to have slashed its defense spending by 20%, due to calls by Vladimir Putin to spend money on other initiatives such as healthcare and education. The cut decreased Russia's military spending to $66.3 billion, in which Russia slumped to being the fourth-highest military spender. Russia's 2019 defense budget was US$48 billion and the 2020 figure was $61.7 billion. Procurement About 70 percent of the former Soviet Union's defence industries are located in the Russian Federation. Many defence firms have been privatised; some have developed significant partnerships with firms in other countries. The recent steps towards modernization of the Armed Forces have been made possible by Russia's economic resurgence based on oil and gas revenues as well a strengthening of its own domestic market. Currently , the military is in the middle of a major equipment upgrade, with the government in the process of spending about $200 billion (what equals to about $400 billion in PPP dollars) on development and production of military equipment between 2006 and 2015 under the State Armament Programme for 2007–2015 (GPV – госпрограмма вооружения). Mainly as a result of lessons learned during the Russo-Georgian War, the State Armament Programme for 2011–2020 was launched in December 2010. Prime Minister Putin announced that 20–21.5 trillion rubles (over $650 billion) will be allocated to purchase new hardware in the next 10 years. The aim is to have a growth of 30% of modern equipment in the army, navy and air force by 2015, and of 70% by 2020. In some categories, the proportion of new weapon systems will reach 80%