Armenia to direct 41% of capital expenditures in 2024 to defense sector

YEREVAN, NOVEMBER 8, ARMENPRESS. 41% of capital expendituresenvisaged in the 2024 state budget will be directed to the defense sector, Finance Minister Vahe Hovhannisyan has said.

The 2024 budget envisages 710 billion drams in capital expenditures.

“41% of capital expenditureswill be directed to the defense sector,” the minister told lawmakers during a parliamentary committee hearing on the 2024 budget.

555 billion drams will be allocated to the defense sector, which is 7% more than in 2023.

“Defense expenditureswill amount to 5,3% in the GDP,” Hovhannisyan said.