ARMENIA’S MILITARY BUDGET SUFFICIENT FOR ENSURING COUNTRY’S DEFENSE
Nov 7 2006
(ARKA) Armenia’s military budget is sufficient for making the country’s
armed forces strong, Armenian Defense Minister Serge Sargsyan told
journalists on Monday after presenting draft state budget for 2007
He said that Azerbaijan’s $1-billion military budget can’t be compared
with Armenian $300 million, but this amount will be enough if spent
The minister also said that greater budget spending is planned for
military purposed, just like for other sector’s needs, reports Trend.
In his words, military expenditures will make 3.5% of GDP every year.
"That’s why the faster economic growth is the greater are expenses
for defense", Sargsyan said.
He said some 48% of the amount will be earmarked for salaries and
similar expenses. Armenian officers’ salaries are planned to reach
AMD 165 thousand (about $435) in 2007.
Sargsyan also said that Armenia intends to acquire new kinds of
armament and ammunition.
The 2007 state budget envisages AMD 100.4 billion (about $263 million)
From: Emil Lazarian | Ararat NewsPress