Armenian government’s funding for the defense industry has skyrocketed, increasing 100 times in the last 4 years, revealed Secretary of the Security Council Armen Grigoryan at the Global Armenian Summit. This substantial budget increase reflects Armenia’s strategic aim to domestically produce 25-30% of its military-technical needs. Despite the challenges posed by this rapid growth, Secretary Grigoryan expressed confidence in the private sector and the military industrial sector to handle the increased workload. The country is committed to bolstering its security architecture through continued efforts in the defense industry.
The surge in funding indicates a robust commitment to strengthening Armenia’s defense capabilities, ensuring national security and self-reliance in military production. This significant investment underscores the nation’s dedication to fortifying its defense sector, paving the way for greater self-sufficiency and strategic preparedness in the face of evolving security challenges.
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