Armenia's defense spending is planned to be increased by 125 percent, or 309 billion drams (approx. $772 million), in 2024, compared to 2018. Prime Minister Nikol Pashinyan announced this during the debates on the draft 2024 state budget at the joint meeting of parliamentary standing committees in the National Assembly of Armenia Monday.

At the same time, as the premier noted, the dynamics of this defense spending growth does not in any way contradict the peace agenda previously announced by the Armenian government.

According to him, defense spending is significant and key for Armenia.

"The reform of our army and our armed forces is of primary importance for us," the Armenian PM emphasized.

He noted that having combat-ready armed forces is the legal right and mandatory characteristic of any country.

"And we [Armenia] are moving forward in this direction. Of course, not at the pace we would like, but there are quite objective and subjective reasons for that. Nonetheless, I must state: the authorities of Armenia are already implementing the course they had previously announced. In particular, to diversify our relations in the security sector," concluded the Armenian premier.