Research background: The problems of the military production, its role in the process of social reproduction is of interest to economists, at least since the time of the English classical political economy. Research by modern economists in this area is focused on finding the answer to the question “Do military spending affect the dynamics of GDP and, if so, is it positive, negative, linear or non-linear. Purpose of the article: The main goal of the study is to identify a possible correlation between the level of Russia's military spending and the movement of its GDP. As a working hypothesis, it has been suggested that under the current structure of military expenditures in Russia, their increase will not unequivocally contribute to accelerating or slowing of GDP dynamics. Methods: To achieve the purpose and objectives of the study, including the assessment of the military expenditure multiplier, we used the SVAR model, which is a modification of the classical VAR model and differs from it in that it imposes additional restrictions on the matrix of coefficients and focuses on the study non-system components. Findings & Value added: The analysis showed that taking into account the specifics of the data studied and the structure of military expenditures observed between 1992 and 2018, there was no statistically significant relationship between the level of military spending in Russia and the level of GDP. As the scientific increment can be considered the results of analysis of the impact of military expenditures of Russia and some of their components on GDP indicators obtained using various econometric models.