October 29, 2024
Iran is planning a significant increase in its military budget, with a proposed 200% boost, Iranian state media reported on Monday. According to government spokesperson Fatemeh Mohajerani, the move represents a “considerable raise” in defense funding, though specifics on the allocation of the funds have not been disclosed.
This budget increase comes in the wake of intensified hostilities between Iran and Israel, highlighted by an October 1 missile strike on Israel attributed to Iranian forces. In response, Israel launched a large-scale air assault over the weekend, deploying over 100 aircraft to target sites across Iran.
The decision to expand the defense budget is part of a larger financial proposal submitted by Iran’s government to parliament, where it awaits approval. Observers suggest the additional funding may support missile development, air defense systems, and other strategic military capabilities as regional tensions escalate.
