Armenia To Double Military Industry Spending Next Year.

In 2019 the government allocated an additional 1 billion drams for military industry at the expense of savings, and in 2020 it is planned to double the allocation, Minister for High Tech Industry Hakob Arshakyan told a news conference.

He said the government allocated 984 million drams for “new developments and projects” in the military-industrial complex in 2019. This amount was spent from redistribution at the expense of savings.

“This was two months ago, and during this period we have already realized this amount. In 2020, the amount allocated to the military-industrial complex will nearly double,” he said.

So far the military-industrial funding was implemented for scientific-research, prototype development works, but the 2020 budget also includes capital spending clauses, which means that the existing capacity of the complex will be enhanced and capital investments will be made.

H/T ArmenPress

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