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Armenia’s public expenditures are projected to rise by 5.4 percent to around 733 billion drams in 2025, Minister of Economy Vahe Hovhannisyan said on Monday.

Speaking at a cabinet meeting, the minister said more than half of the funds, 55.8 percent, will be allocated to the defense sector.

“Defense spending will rise to 6% of GDP in 2025, totaling to 664.7 billion drams, a 20% increase from this year,” Hovhannisyan announced.

Armenia’s social spending is expected to amount to 905 billion drams next year.