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Seda Hergnyan

20% of Armenia’s 2023 Budget to Defense

Defense expenditures will see the greatest increase in Armenia’s 2023 draft budget of US$5.7 billion.

If approved by the National Assembly, $1.3 billion will be spent on defense, an increase of 47% over last year.

The overall national budget will increase by 18.6% and have a deficit of 289 billion drams ($716 million).

Spending on social programs, mainly retirement pensions, will increase by 11.5% to $1.6 billion, education by 9.9% to $525 million, health by 21.7% to $369 million, and public services by 18.2% to $1.258 billion.

$22 million, 8% less than last year, will go to environmental protection.

$674 million will go to pay the interest on the national debt.

$597 million, an increase of 13.8%, will fund programs in agriculture, construction, transportation &communications, and other sectors. The funds are managed by the economy, territorial administration and infrastructure ministries and other government agencies.

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