Armenia's defence spending to make up 5.3% of 2024 GDP

The Armenian government plans to allocate 554 billion drams ($1.375 billion) to the Defence Ministry in 2024. 

Armenian Finance Minister Vahe Hovhannisyan said this at the National Assembly session during the discussion of the adjusted draft state budget for 2024 on December 6, Caliber.Az reports, citing Armenian media.

This, he said, is 7 per cent higher than the defence expenditures envisaged in the 2023 state budget.

"Defence expenditures will amount to 5.3 per cent of 2024 GDP, decreasing by 0.3 percentage points compared to 2023," the minister added.