Compared to 2020, Armenia’s defense spending in 2024 is to increase by 81%- Ministry of Finance

YEREVAN, JANUARY 22, ARMENPRESS.The Armenian government plans to allocate around 557 billion drams to the defense sector in 2024, which is 6% more than the amount envisioned by the revised 2023 budget, the Ministry of Finance reported.

Defense spending in 2024 is to increase by 81% as compared to 2020.

In 2024, more than 17% of the budget expenditures will be allocated to the defense sector.