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Armenia plans to allocate $495.3 million on military expenses in 2009

Armenia plans to allocate $495.3 million on military expenses in 2009

24 October 2008 17:04 (UTC +04:00)

Baku. Rashad Suleymanov â€“ APA. Armenia plans to allocate $495.3 million on military expenses next year. APA reports quoting Armenian media that this is 34% more compared with the funds allocated on defense sector in 2008. Military expenditures will make up 15.7% of the expenses in the state budget in 2009 and 3.6% of GDP.

Official Yerevan allocated $370 million on military expenditures in 2008 and $273 million in 2007. Armeniaâ€™s budget revenues are forecasted to be $2.9bn. and budget expenses $3.1bn. in 2009

Azerbaijanâ€™s military expenditure is forecasted to be AZN 1.205.520bn. in 2009.

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