A rearmament program approved in 2007 placed the development of the navy on an equal footing with the Strategic Missile Forces for the first time in Soviet and Russian history. This program, covering the period until 2015, expected to see the replacement of 45 percent of the inventory of the Russian Navy. Out of 4.9 trillion rubles ($192.16 billion) allocated for military rearmament, 25 percent will go into building new ships. "We are already building practically as many ships as we did in Soviet times," First Deputy Prime Minister Sergei Ivanov said during a visit to Severodvinsk in July 2007, "The problem now is not lack of money, but how to optimize production so that the navy can get new ships three, not five, years after laying them down."