Armenian government plans 555 billion drams in capital spending for defense in 2024

YEREVAN, OCTOBER 30, ARMENPRESS. The capital spending in the defense area will amount to 555 billion drams by the 2024 state budget, finance minister Vahe Hovhannisyan told lawmakers Monday.

“The Defense Ministry’s expenditures will amount to 555 billion drams. This is 7 percent more than in 2023 and amounts to 5,3% of the GDP,” Hovhannisyan said at a parliamentary committee hearing on the 2024 budget draft.