• $ 1.7
  • € 1.84
  • ₽ 2.0443
  • ₺ 0.0448
  • £ 2.1992

Azerbaijan boosts military spending

Azerbaijan boosts military spending
06.02.2014 14:15

Azerbaijan's defence budget will total AZN2.95 billion (USD3.75 billion), or 14.7% of budget expenditures in 2014, according to figures released by the country's Ministry of Defence (MoD).

The budget is up by USD150 million over 2013, when defence spending was set at USD3.6 billion.

These funds are intended to strengthen national security, national defence, and the defence material and technical base, according to an MoD communiqué.

Azerbaijan has sought to use its military spending to boost its defence industries. In 2013 the volume of defence production in Azerbaijan edged up 3.7% from the previous year. This year's defence budget also includes funds for local industry through a programme to reactivate and modernise decommissioned MiG-25 'Foxbat' combat aircraft.

ANN.Az

Similar news
Similar news
Germany backs Middle Corridor, calls Azerbaijan key transport hub – Steinmeier
Political News 14:06
Germany backs Middle Corridor, calls Azerbaijan key transport hub – Steinmeier
Karabakh Is Azerbaijan, Germany Reaffirms – President Steinmeier
Political News 12:59
Karabakh Is Azerbaijan, Germany Reaffirms – President Steinmeier
Azerbaijan’s victory opened path to peace talks with Armenia, Aliyev Says
Political News 12:52
Azerbaijan’s victory opened path to peace talks with Armenia, Aliyev Says
German president says time needed to rebuild trust between Azerbaijan and Armenia
Political News 12:51
German president says time needed to rebuild trust between Azerbaijan and Armenia
Azerbaijani President Ilham Aliyev Holds One-on-One Meeting with German President Steinmeier
Political News 11:11
Azerbaijani President Ilham Aliyev Holds One-on-One Meeting with German President Steinmeier
Iranian president to visit Azerbaijan in April
Political News 10:30
Iranian president to visit Azerbaijan in April
German president visits Azerbaijan amid strengthening bilateral ties
Political News 09:03
German president visits Azerbaijan amid strengthening bilateral ties
Turkish University annuls Erdogan rival’s degree, blocking presidential bid
Political News 10:00
Turkish University annuls Erdogan rival’s degree, blocking presidential bid
Azerbaijan says Armenian forces fired on army positions
Political News 09:40
Azerbaijan says Armenian forces fired on army positions
Anews TV

Our official Youtube channel

Subscribe