Finance Minister Presents Defense Expenditure for 2024

The discussions on the draft state budget for 2024 have begun in the National Assembly. The Minister of Finance of Armenia, Vahe Hovhannisyan, presented a revised version of the budget draft.

In 2024, expenditures for the Ministry of Defense of Armenia will amount to 554 billion drams. "These will exceed the expenditures allocated for the defense sector in the 2023 state budget by 7 percent, resulting in defense spending constituting 5.3 percent of GDP in 2024, a decrease of 0.3 percentage points compared to 2023," the minister added.