Armenia intends to start increasing its defense spending in 2018

Armenia intends to start increasing its defense spending in 2018

YEREVAN, July 17. /ARKA/. Armenia intends to start increasing its defense spending in 2018 by 26 to 27 million drams every year, Vardan Aramyan, finance minister, told journalists on Sunday.  

«Defense spending will make up 4% of GDP in 2020,» he said.

In his words, the decision was prompted by the necessity of maintaining the military balance.

Aramyan said the defense ministry's expenses planned for 2017, including capital spending, total around 226 billion drams (3.71% of GDP).

Earlier, he said that the nominal GDP amount is projected at AMD 5 trillion 785 billion for 2018, AMD 6 trillion 341 billion for 2019 and AMD 6 trillion 974 billion for 2020.

Economic growth is projected at 4.7% for 2018, at 5.4% for 2019 and 5.7% for 2020--0---



11:25 17.07.2017





 

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