YEREVAN/ ARKA /. Armenia’s defense spending this year will amount to 200 billion drams, President Serzh Sargsyan said today in his address to the 7th congress of the Union of Industrialists and Entrepreneurs of Armenia
He recalled that the military budget in 1995 was 19.1 billion drams, in 2005 it surged to 64.4 billion drams and in 2014 it will reach 200 billion drams.
“The difference, I think, is pretty obvious. The task is o ensure the physical safety of our people and also economic security,” said the head of state.
He said from a security perspective the current economic system of Armenia guarantees the safety of investments.
“It is also important to maintain peace in the region, for which we have made and are making efforts in all areas, including through the provision of appropriate levels of defense spending, “ said the president.
Source: Arka News Agency