 Armenia’s military industry budget to grow 122% in 2020 November 15, 2019 - 13:09 AMT PanARMENIAN.Net - Budgetary allocations in the military industry will grow by 122% in 2020, Hakob Arshakyan, Minister of High-tech Industry, said on Friday, November 15. “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) will be spent on military industry,” Arshakyan was quoted as saying by Shantnews.am. Some of the expenses, the Minister said, 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 digitalization for 2020-2025, which will soon be unveiled to the public,” Arshakyan said.   Top stories Armenia's international reserves amounted to $3.5 billion, according to a report from the country's Central Bank. Trade between Armenian and Iranian increased by 43.5% in the first 10 months of 2022, rising from $390 million to around $560 million. There’s a growing demand for Armenian sprits in Russia amid Western sanctions on the supply of alcohol to the country. Vahan Kerobyan said Armenia will most probably introduce a ban on the sale of Turkish products as well.   Partner news |  Latest news Pashinyan to attend Biden's virtual Summit for Democracy  Armenian Prime Minister Nikol Pashinyan will participate in U.S. president Joe Biden's Summit for Democracy.RankingRoyals: Yerevan ranked 21st in fresh safety report The Armenian capital of Yerevan has landed in the 21 spot of RankingRoyals’ latest edition of a report on the safest cities around the world.Seryozha Barseghyan wins Youth World Weightlifting Championships gold Armenian lifter Seryozha Barseghyan won gold at the 2023 Youth World Weightlifting Championships on Monday, March 27.U.S. says concerned about Azerbaijani military movements Assistant Secretary of State for European and Eurasian Affairs Karen Donfried spoke with Azerbaijani Foreign Minister Jeyhun Bayramov. |
