The Russian government has no plans to scale back defense spending in the coming years, according state media reports.

Russian Prime Minister Dmitry Medvedev recently discussed the Kremlin's plans to expand its production and grow its domestic defense industry. Funds for future projects, he said, have already been set aside.

"Currently several programs are being implemented for upgrading the defense-industrial complex alongside the program for the country's military-industrial development," he was quoted by Russia's TASS news agency as saying. "The program, which is still in the drafting phase, will take effect as of 2018 and last till 2025."

Medvedev noted upcoming projects will aim to improve the country's armaments procurement program, noting Russia's defense industry production indicators grew by over 10 percent by the end of 2016.

"Results of delivering the defense order evidence that we are on the right track - this pertains to armament, materiel and special machinery," Medvedev added.

The Russian government's defense budget is among the highest in the world, though the country fell out of the top 5 military budgets last year following an uptick in spending from Saudi Arabia.

Researchers expect Russia to fall even further behind as the United States, China, Britain, and India continue to bolster their military spending.