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Azerbaijan's military spending in 2020 grew by 17 percent, while Armenia's dropped by 2.6 percent- SIPRI
Azerbaijan’s 17 per cent increase in military spending was the largest relative increase among countries in Eastern Europe in 2020, according to new data published by the Stockholm International Peace Research Institute (SIPRI). YEREVAN, April 26. /ARKA/. Azerbaijan’s 17 per cent increase in military spending was the largest relative increase among countries in Eastern Europe in 2020, according to new data published by the Stockholm International Peace Research Institute (SIPRI). The rise in spending was largely driven by the conflict with ...
04/26/2021Armenia to increase military spending to 1.5 percent of GDP in 2018
Armenia’s defense spending in 2018 will grow to 1.5% of GDP, Atom Margaryan, the head of the Center for Innovative and Institutional Research, told journalists on Thursday. YEREVAN, October 12. /ARKA/. Armenia’s defense spending in 2018 will grow to 1.5% of GDP, Atom Margaryan, the head of the Center for Innovative and Institutional Research, told journalists on Thursday. He said the 2018 budget has earmarked 246 billion drams as defense spending, which is 34 billion drams more than in 2017....
10/12/2017Armenia’s Defense Minister Downplays Azerbaijan’s Plans To Nearly Double Its Military Spending
Armenia’s defense minister Seyran Ohanian downplayed Azerbaijan’s plans to nearly double its military spending next year to $3.1 billion. YEREVAN, November 9, /ARKA/. Armenia’s defense minister Seyran Ohanian downplayed Azerbaijan’s plans to nearly double its military spending next year to $3.1 billion, saying in a televised interview ...
11/09/2010Ex governor of central bank blames increased military budget on complicated situation on border with Azerbaijan
A former governor of Armenia’s Central Bank has blamed today the complicated military and political situation on the Armenian-Azerbaijani border for Armenian government’s decision to raise the military spending for next year by 34 billion drams. YEREVAN, November 7. /ARKA/. A former governor of Armenia’s Central Bank has blamed today the complicated military and political situation on the Armenian-Azerbaijani border for Armenian government’s ...
11/07/2017Armenia’s draft budget for 2023 earmarks 506 billion drams for military spending
Armenia’s draft budget for 2023 earmarks 506 billion drams for military spending, representing a 35% rise from the 2022 allocation. YEREVAN, October 31. /ARKA/. Armenia’s draft budget for 2023 earmarks 506 billion drams for military spending, representing a 35% rise from the 2022 allocation. The figure will ...
10/31/2022Social spending for 2011 increases by 7 percent
... 2011. The government’s defense spending is projected to rise by 11.5 percent to 146 billion drams ($405 million). ‘We need to preserve the social orientation of the budget, but must not forget either that we have an enemy and this is why military spending is another priority,’ he said. Representatives of the Heritage and Armenian Revolutionary Federation, which make the parliament’s opposition minority, voted against the budget, saying the budgetary targets will not help boost ...
12/10/2010Pashinyan: Armenia should increase military spending
... increased defense expenses by AMD 34 billion, compared with the previous year, to AMD 246 billion or 1.5% of GDP. “Our military expenses should be adequate to things in the region,” Pashinyan said. “I think there is the necessity of increasing military spending, and we will do this. I am sure that we will be able to do this by increasing the country’s budget revenue.” He also said that the spending increase is necessary to ensure military balance in the region, which was upset in recent ...
05/01/2018World Bank: Armenia experienced one of region’s sharpest GDP contractions of 7.6 percent in 2020
... restrictions prevented an even greater increase in unemployment. The budget deficit widened sharply to 5.1 percent of GDP in 2020 (from 0.8 percent of GDP in 2019), driven by increased spending associated with the government’s pandemic response, higher military spending, and depressed tax revenues. The deficit was financed by a deposits drawdown and increased public borrowing, prompting Armenia to invoke its fiscal rule’s escape clause as public debt rose above the statutory level of 60 percent of ...
03/31/2021Armenia’s projected GDP growth may be absorbed by increased military spending
Armenia’s projected GDP growth in 2016 may be absorbed by increased military spending and injections into the Karabakh economy, according to economist Vilen Khachatryan. YEREVAN, April 8. /ARKA/. Armenia’s projected GDP growth in 2016 may be absorbed by increased military spending and injections into the Karabakh ...
04/08/2016Armenian Defense Ministry's 2022 budget overfulfilled by 39% - report
Armenian Defense Ministry's actual spending in 2022 amounted to 480 billion drams, by 39% more than initially planned, according to the government's 2022 state budget performance report. YEREVAN, April 27. /ARKA/. Armenian Defense Ministry's actual spending in 2022 amounted to 480 billion drams, by 39% more than initially planned, according to the government's 2022 state budget performance report. The initial budget was about 345 billion drams (about $793 million), but the spending appeared...
04/27/2023Azerbaijan will have to cut its military spending- Russian expert
Azerbaijan will soon be forced to cut its defense spending because of the devaluation of its national currency, the manat, Aidar Kurtov, an expert from the Russian Institute for Strategic Studies, said today, Novosti-Armenia reported. YEREVAN, May 12. / ARKA /. Azerbaijan will soon be forced to cut its defense spending because of the devaluation of its national currency, the manat, Aidar Kurtov, an expert from the Russian Institute for Strategic Studies, said today, Novosti-Armenia reported...
05/12/2015Armenia's military spending is up by 26 percent in 2019
Armenia's defense budget in 2019 has surged by about 26%, amounting to 312 billion drams, from 247.8 billion drams last year, according to Prime Minister Nikol Pashinyan. YEREVAN, September 16. /ARKA/. Armenia's defense budget in 2019 has surged by about 26%, amounting to 312 billion drams, from 247.8 billion drams last year, according to Prime Minister Nikol Pashinyan. Speaking at a news conference in the town of Vanadzor today, Pashinyan said the government allocated additional funds in the...
09/16/2019Armenia's three neighbors are in the ranking of most powerful countries
... The US defense spending is higher than the next seven largest defense spenders (China, Saudi Arabia, India , France, Russia, Germany, and the United Kingdom) combined. Russia and China are the second and third most powerful countries, known for their military spending. China also has a large economy with a GDP of $12.2 trillion. No country on the list changed in rankings from 2018 to 2019 except for South Korea, which joined the top ten list in 2019 from the 11th rank. On the bottom of the list ...
12/16/2019Armenia's state budget deficit to rise to 5.5% of GDP in 2025 - Fitch
... Armenia's state budget deficit will increase to 5.5% of GDP in 2025 from 4.7% in 2024, reflecting expansionary fiscal policy, Fitch Ratings said in a report. “This includes integration costs for some 65,000 refugees from Nagorno-Karabakh and higher military spending,” the report said. Fitch analysts also point out that the planned introduction of a universal health insurance program from 2026 will increase spending by about 1.3% of GDP/year, with the deficit remaining at 5.4% of GDP in 2026. Armenia's ...
01/29/2025Armenian parliament committee approves 40 billion dram rise in military spending
The Armenian parliament committee on financial and budgetary issues approved today a set of amendments to the state budget, prompted by the martial law declared late last month. YEREVAN, October 5. /ARKA/. The Armenian parliament committee on financial and budgetary issues approved today a set of amendments to the state budget, prompted by the martial law declared late last month. The government-designed bill says in connection with hostilities in the zone of the Karabakh conflict, current expenditures...
10/05/2020Moody's: Russia's disengagement reignites tensions between Armenia and Azerbaijan
... route. The situation remains volatile, with both sides accusing Russian peacekeepers based in the Lachin corridor of helping the other, further undermining Russia's credibility as security guarantor. This has led both sovereigns to recently increase military spending – Azerbaijan by 17% and Armenia by 46% in their respective 2023 budget. In Azerbaijan, an exceptionally high hydrocarbon windfall has more than compensated for the extra expenditure, while in Armenia strong revenue in 2022 from exceptional ...
05/25/2023Armenian FM blames Azerbaijan for escalating tension in Karabakh conflict zone
... him, it is obvious that Azerbaijan provokes tensions in the region. "Over the past ten years Azerbaijan has increased its military budget 30 times - from $163 million to almost $5 billion. One can hardly find another country that has surged its military spending 30 times. This happens along with Azerbaijan’s threats to renew hostilities,' he added. In this context, Nalbandian said that war is not a way to solve the conflict and that the parties must return to the negotiating table. "Today ...
03/12/2015Azeri position runs counter to UN principles: Armenian FM
... Challenges Goals, he said Azerbaijan’s policies are in violation of UN basic principles. In a statement Armenian foreign ministry quoted Nalbandian as saying that ‘all of us are witnessing Azerbaijan’s belligerent behavior, its increasing military spending, war rhetoric and provocations threatening security and stability of the region.’ Nalbandian said since security and development are closely intertwined, the governments have committed not to spare efforts to fend off peoples from ...
09/22/2010Armenia’s economic policy needs revision – economist
... is in desperate state.» Ordinary citizens, he said, feel no benefit from the economic growth – only wealthy people take advantage of it. Speaking about vulnerability of the economy, the economist pointed out Armenia's debt burden and increase of military spending. According to the National Statistical Service, Armenia’s total public debt has grown 14% or by $832.5 million since late 2016 reaching $6 774.6 million by late 2017. Margaryan also said that corruption and poverty make the country's ...
02/06/2018Ex-finance minister warns Putin against populism, conservatism - Reuters
... business newspaper. "It is necessary to avoid excessive conservatism, which limits individual and economic freedom, hinders development," wrote Kudrin, a darling of Western investors who quit as finance chief in September 2011 after criticising military spending. Kudrin has more scope than most in Russia to express his views candidly in public after working with Putin for many years and long having his ear on economic policy matters. He also said the Western sanctions, which limit access to ...
11/21/2014Sanctions against Iran jeopardize implementation of Armenian-Iranian projects: expert
... Iran are jeopardizing the implementation of a set of joint Armenian-Iranian projects, Sevak Sarukganian, deputy head of Noravank foundation, told a news conference today. He said Iranian government had to curtail its 2012 budget by 5.5% and increase military spending by 30%. The volume of investments in the economy has also slashed, he said. ‘This means jeopardizing Armenian-Iranian investment projects because the Iranian side is to secure their bulk,’ said Sarukhanyan. According to him,...
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