Armenia Increases Defence Sector Allocation

25 October 2010 (Last Updated October 25th, 2010 18:30)

Armenia's defence sector has been allocated $386m in the 2011 draft budget, equivalent to a 3.5% increase from 2010 spending. A total of $373m is intended for military necessities, while $12.2m has been provided for other expenditures, according to NEWS.am. Armenian Defence Minist

Armenia's defence sector has been allocated $386m in the 2011 draft budget, equivalent to a 3.5% increase from 2010 spending.

A total of $373m is intended for military necessities, while $12.2m has been provided for other expenditures, according to NEWS.am.

Armenian Defence Minister Seyran Ohanyan said the defence sector needed more financing than allocated, but will look for off-budget funds with assistance from partner states.

The joint efforts put up by the defence and finance ministries managed to pull in maximum financing for the defence sector.