Armenia increased defense production budget 100 times in last 4 years

YEREVAN, SEPTEMBER 18, ARMENPRESS. The Armenian government increased in the last 4 years funding for the defense industry 100 times, Secretary of the Security Council Armen Grigoryan said on Wednesday at the Global Armenian Summit. 

“The budget allocated to the military industrial sector in Armenia has increased one hundred times in the past four years. Imagine the volume of military industrial orders,” he said. 

Armenia has a strategic goal of achieving the capacity to meet 25-30% of its military-technical needs through domestic production as soon as possible. 

“We hope to achieve this goal as soon as possible. The number I mentioned has brought numerous problems with itself, but I am sure that the private sector and the military industrial sector will be able to cope with this volume and continue to work to contribute to the construction of Armenia’s security architecture,” Secretary Grigoryan said.