Iran doubled its defense budget for 2012 to reach around 443 billion US Dollars 0202121

Posted On
a
 

Defense News - Iran
 
 
Thursday, February 2, 2012, 08:56 AM
 
Iran doubled its defense budget for 2012 to reach around 443 billion US Dollars.
Iranian President Mahmoud Ahmadinejad has put his 2012 budget to the country’s parliament. In a speech, Ahmadinejad told lawmakers the total budget comes to around 443 billion US Dollars, with the amount spent on defense more than doubling, an increase of 127 per cent.
     
Iranian President Mahmoud Ahmadinejad has put his 2012 budget to the country’s parliament. In a speech, Ahmadinejad told lawmakers the total budget comes to around 443 billion US Dollars, with the amount spent on defense more than doubling, an increase of 127 per cent.
Two new armored vehicles of the Iranian armed forces have been tested in January 2012 during military exercise, the Sheni-Dar at the left and the Sarir at the right.
     

The president says the public budget for 2012-13 is worth around 90 billion dollars. It covers items like wages, subsidies and development projects. Meanwhile, the draft budget proposes a 5.6 per cent drop in government spending.

It aims at securing a growth rate of eight per cent, higher than the 7.3 per cent current growth. Iranian media says the budget is based on an oil price of 85 US dollars a barrel, which is below international crude prices.

Tension with the West rose last month when Washington and the European Union imposed the toughest sanctions yet in a drive to force Tehran to curb its nuclear program. Iran has suggested it will fight sanctions with sanctions.

The defense industry in Iran has largely developed in recent years because of the the arms embargo. Last few months the Iranian Defense Ministry presented a wide range of new weapons in the fields of land, air and sea.