Armenia allocates more funds for military industryDecember 18, 2019 - 14:39 AMT PanARMENIAN.Net - More funds will be allocated to the military industry in 2020, Hakob Arshakyan, Armenian Minister of High-tech Industry, said on Wednesday, December 18. Arshakyan had revealed earlier that budgetary allocations in the military industry will grow by 122% year-on-year. Out of the AMD 12.5 billion ($26.3 million) to be allocated to the Ministry of High-tech Industry, AMD 6.3 billion ($13.3 million) were to be spent on military industry. The Minister said on Wednesday, however, that AMD 1 billion (approx. $2.1 million) will be added to the sum set to be used on the development of new weapons and military technology. Some of the expenses will be directed to scientific research, while the remaining part will be spent on the development of production capacities aimed at exporting Armenian military products to foreign markets. To achieve these goals, Armenia has developed a strategy for high-tech and military industry development and digitization for 2020-2025. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. Azerbaijan must respect human rights, Scholz tells Aliyev German Chancellor Olaf Scholz has called for greater respect for human rights in Azerbaijan. Armenia: Defense Ministry warns against involving army in political processes The Ministry’s statement came after a video surfaced online, showing soldiers joining the protests in Tavush. Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. |