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Time in Yerevan: 11:07,   28 March 2024

Armenia increases defense spending

Armenia increases defense spending

YEREVAN, OCTOBER 3, ARMENPRESS. Armenia is planning to increase its military spending by 40 billion drams, and an extraordinary session of parliament convened on October 6 will debate the bill.

The amendments to the 2020 budget are aimed at ensuring favorable conditions for the military and the economy amid the mobilization to prevent the direct threat of a military attack on the country and to ensure the normal activities and safety of citizens and organizations during martial law.

As a result of the amendments, the 2020 budget tax revenues are expected to total 1,320,5 billion.

Current spending will total 1,637,4 billion drams.

Deficit is expected to be around 459.0 billion.

Editing and Translating by Stepan Kocharyan

 








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