Iran is set to drastically expand its defence budget for the coming fiscal year, following a recent exchange of missile fire with Israel that has heightened the risk of broader conflict across the Middle East.
Government spokesperson Fatemeh Mohajerani said on Tuesday that the administration had recommended a 200 per cent increase in next year’s defence allocation to the parliament, without disclosing further details.
For this fiscal year, Iran’s total defence spending was about $8bn in current dollar rates.
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