ArmInfo. Armenia will allocate 150 billion drams (over $390 million) for the development of the defense industry as part of the Armed Forces Development Program for 2026-2028, as stated by Armenian Defense Minister Suren Papikyan during a press conference in Yerevan on January 13.
He emphasized the importance of developing local production, while also diversifying the arms procurement market. In this regard, Papikyan noted that while contracts worth 5.5 billion drams (slightly over $14 million) were signed with local companies in 2022, the current figure stands at 170 billion drams (over $440 million), with most products already delivered to the Armed Forces.
Recall, Armenian Minister of High-Tech Industry Mkhitar Hayrapetyan had announced the allocation of 150 billion drams (over $390 million) for the development of Armenia's defense industry in 2026-2028, with plans to finalize three-year contracts.
