Economy 15:27 15/11/2019 Armenia

Minister: Armenia’s military industry budget to grow by 122% in 2020

Budgetary allocations for Armenia’s military industry will increase by 122% to 6.3 billion drams in 2020, Minister of High-Tech Industry Hakob Arshakyan said during the parliamentary debates on the draft state budget on Friday.

Some of the funds, the minister said, will be directed to implementing research programs, while the remaining part – to developing industrial capacities given the country’s defense needs and opportunities for entering foreign markets with Armenian products.

The Ministry of High-Tech Industry will receive a total of 12.5 billion drams next year under the draft state budget, Arshakyan said.

He noted that the ministry plans to make Armenia a desirable place for talented engineers, programmers, innovators, researchers to live and work.

The minister said 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 presented to the public. 



Source Panorama.am
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