Armenia is set to significantly boost its defense expenditure in 2025, with the military budget expected to reach 664 billion drams ($1.71 billion), representing a substantial 20% increase compared to the previous year, country's Finance Minister, Vahe Hovhannisyan said during the discussions on the draft state budget for 2025.
The increased defense spending will account for 6% of Armenia's Gross Domestic Product (GDP) in 2025, marking a 0.7% rise from the 2024 figures, Hovhanissyan said.
Minister Hovhannisyan further revealed that the defense sector will receive a significant portion of the capital budget expenditures, with 55.8% allocated to military-related projects.
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