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Armenia promises big boost in military spending

30/09/2022. Category: Military. Topic: , , .

By Ani Mejlumyan, Eurasianet.

Armenia has announced that it is increasing its defense budget by nearly 50 percent two years after its defeat in the war to Azerbaijan, as Baku continues to apply military pressure.

The 2023 military budget will be 501 billion drams (over $1.2 billion), according to a draft budget presented by the government at a September 29 cabinet meeting. That would be a 47 percent increase over the 2022 budget in dram terms, and an even greater increase in dollar terms as the Armenian currency has been sharply appreciating in the last several months.

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