  Armenia to expand defense spending by $54 mln each year July 17, 2017 - 16:22 AMT PanARMENIAN.Net - Under Armenia's 2017 budget, the defense spending, including the capital spending, amounts to AMD 226 billion, finance minister Vardan Aramyan told reporters on Monday, July 17, adding that military expenditures will grow by some AMD 26-27 billion (apx. $54 million) each year. The minister weighed in on the issue of whether the growth of appropriations is connected with the April war of 2016 and, if so, to what extent. Azerbaijan on April 2, 2016 launched a large-scale military offensive against Nagorno Karabakh which left hundreds dead on both sides. Top Armenian and Azerbaijani defense officials reached an agreement on the cessation of hostilities on April 5 in Moscow. “Regardless of the April war, we have been facing some risks since the ceasefire in 1994. Therefore we have always prioritized defense expenditures to maintain military balance,” Aramyan said. Also Monday, Aramyan said Armenia is considering getting a new military loan from Russia.   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 |  Latest news Erdogan wants “realistic road map” for relations with Armenia  Turkish President Recep Tayyip Erdogan has called for a “new realistic road map” for relations with Armenia.Armenia-Azerbaijan: Experts launch work on determining coordinates Expert groups from the countries started the process of determining the coordinates based on geodetic measurements.Yerevan says did not expect CSTO in peacekeeping role Pashinyan has declared that the CSTO would be expected to come to the Armenia-Azerbaijan border as an ally of ArmeniaHenrikh Mkhitaryan wins Serie A title with Inter Inter Milan midfielder Henrikh Mkhitaryan admits that the team have long been imagining clinching Serie A against AC Milan. |
