News - Armenia defense sector capital spending planned in amount of around $1.4 billion in 2024

In 2024, capital spending in the defense sector in Armenia shall amount to about 555 billion drams (approx. $1.4 billion). Minister of Finance Vahe Hovhannisyan announced this during the debates on the draft 2024 state budget at the joint meeting of parliamentary standing committees in the National Assembly of Armenia Monday. This, Hovhannisyan said, is 7 percent more than in 2023. "In fact, it’s about 5.3 percent of the country's GDP," the finance minister added.