Time in Yerevan: 11:07:36,   22 July

Armenia to increase defense spending by 26-27 billion drams yearly

HANKAVAN, JULY 17, ARMENPRESS. The Armenian defense ministry’s 2017 budget spending, including capital expenditures, amount nearly 226 billion drams, finance minister Vardan Aramyan said at a press briefing in Hankavan, adding that it is planned to increase defense allocations by 26-27 billion drams yearly.

“It’s not the nominal indicator that is targeted, but rather the resources allocated to the defense sector: in the limits of GDP’s 4%. It is planned to have 500-600 million dollar defense budget by 2020”, he said.



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