Iran's government has announced plans to triple its military budget, as revealed by government spokeswoman Fatemeh Mohajerani during a press conference in Tehran. This proposal, which includes a significant increase of over 200%, comes amid escalating tensions with Israel, following recent missile exchanges between the two nations.
While exact figures have not been disclosed, the Stockholm International Peace Research Institute estimated Iran's military spending at approximately $10.3 billion for 2023. The proposed budget will be debated by lawmakers, who are expected to finalize it by March.
Tensions have heightened recently, particularly after Iran launched a missile barrage against Israel on October 1, prompting retaliatory strikes from Israel. Both countries have exchanged accusations regarding the destabilization of peace in the Middle East during a recent UN meeting.
The escalation follows Israel's military offensive in Gaza targeting Hamas, which was initiated in response to attacks on October 7. The situation is further complicated by ongoing conflicts involving Hezbollah in Lebanon.
