The Armenian government has revised its defense budget and allocates 557 billion drams (approximately $1.37 billion) for 2024, the country's Defense Ministry said on Tuesday.
The ministry said in a brief statement that it will be 6% higher than the government's initial allocation for military needs announced in the budget in 2023.
In comparison to 2020, Armenian defense spending is expected to increase by 81% in 2024, accounting for more than 17% of the total state budget.
