Iran to Raise Military Budget by 200% Amid Escalations with Israel

Oct 29, 2024, 08:13 AM

Iran's government plans to raise its military budget by around 200%, government spokesperson Fatemeh Mohajerani announced on Tuesday via state TV. The proposed increase, which would raise military expenditures from $10.3 billion to $30.9 billion, is part of a broader fiscal proposal submitted to parliament. The decision follows recent escalations with Israel after a series of retaliatory missile strikes in recent months.