Iran's national military budget increases by 127 percent

1 February 2012, 13:20 (GMT+04:00)
Iran's national military budget increases by 127 percent

Azerbaijan, Baku, Feb. 1 / Trend S.Isayev, T. Jafarov/

Iran's national military budget has been increased by 127 percent, country's president Mahmoud Ahmadinejad said during Iran's parliamentary session, Mehr reported.

Although no official statistics of Iran's military expenditures exist, according to Stockholm International Peace Research Institute (SIPRI) Military Expenditure Database, Iran's military budget for 2010 was just over $7 bln.

With the 127 percent increase, Iran's military budget equals $15.89 bln.

Earlier, the budget amount for new year (Iranian year ends on March 21) was announced in the amount of approximately $510 billion, the Iranian President Mahmoud Ahmadinejad said in the parliament.

Approximately $400 bln of this amount fall on the budget of state companies.