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Armenia increases military expenditures

By Messenger Staff
Friday, November 23
Since the world economic crisis began in 2008, Armenia has faced many economic problems. Armenia is particularly vulnerable to the vicissitudes of the world economy because a large portion of the country’s income comes from cash remittances sent by Armenians living abroad. Despite its fragile economy the Armenian government has recently increased its military expenditures, which are currently around 361 million USD, approximately 15% of the country's budget. In 2013 country’s military budget is expected to increase up to 416 million USD.