(ARKA) Armenia's military budget is sufficient for making the country's armed forces strong, Armenian Defense Minister Serge Sargsyan told journalists on Monday after presenting draft state budget for 2007 to lawmakers.
He said that Azerbaijan's $1-billion military budget can't be compared with Armenian $300 million, but this amount will be enough if spent reasonably.
The minister also said that greater budget spending is planned for military purposed, just like for other sector's needs, reports Trend.
In his words, military expenditures will make 3.5% of GDP every year. "That's why the faster economic growth is the greater are expenses for defense", Sargsyan said.
He said some 48% of the amount will be earmarked for salaries and similar expenses. Armenian officers' salaries are planned to reach AMD 165 thousand (about $435) in 2007.
Sargsyan also said that Armenia intends to acquire new kinds of armament and ammunition.
The 2007 state budget envisages AMD 100.4 billion (about $263 million) for defense. M.V.
