In light of the current armed conflicts in Gaza and Lebanon, Iran has declared plans to treble its military budget, a move that reflects rising tensions with Israel.
The idea was confirmed by government spokesperson Fatemeh Mohajerani on Tuesday, adding that parliamentary clearance is still pending for the substantial 200 percent increase in defense budget.
Lawmakers will discuss the proposed budget, which intends to improve Iran’s military capabilities, and a final decision is anticipated in March 2025.
In 2023, Iran spent about $10.3 billion on its military, according to the Stockholm International Peace Research Institute (SIPRI).
The Council on Foreign Relations, however, pointed out that between October 2023 and April 2024, the US gave Israel at least $12.5 billion in military assistance.
