President: We have significantly increased our military budget for the coming year

“Given the large-scale militarization of Armenia, we have significantly increased our military budget for the coming year. It has reached a record level of 8.4 billion manats,” President Ilham Aliyev said in his address on the occasion of the Day of Solidarity of World Azerbaijanis and the New Year, according to Report.

“We were compelled to raise it to this level. Because we cannot lag behind in the arms race initiated by Armenia in the South Caucasus,” the head of state emphasized.