Iran has proposed a significant boost to its military budget, aiming to triple current spending as tensions with Israel continue to escalate, government spokeswoman Fatemeh MoHajjerani announced Tuesday. This increase would mark a rise of over 200 percent, although specific figures were not disclosed. According to the Stockholm International Peace Research Institute, Iran’s military spending in 2023 was approximately $10.3 billion.
This proposed budget increase will undergo debate in parliament, with a final decision anticipated in March. Tensions between Iran and Israel recently intensified following reciprocal missile attacks, with each side accusing the other of threatening Middle Eastern stability at a recent UN meeting. Days earlier, Israeli airstrikes targeted Iran, in response to a missile barrage Iran launched against Israel on October 1, reportedly in retaliation for the killing of leaders from Hamas, Hezbollah, and one of its own commanders.
Spokeswoman MoHajjerani emphasized that the increased budget aims to address the nation’s defense needs amid ongoing security concerns. Israel’s current military operations against Hamas in Gaza and ongoing clashes with Hezbollah along the Lebanese border have further strained regional stability.