Iran to allocate 1.5bln euro from National Development Fund to boost defense power

Iran to allocate 1.5bln euro from National Development Fund to boost defense power

Iranian lawmakers approved a motion to allocate 1.5 billion euros to the country’s plans to boost the defense power, Iranian Parliament Speaker Ali Larijani said.

In an open session of the parliament on Sunday, the MPs voted for an extension clause to the budget bill, which allows the administration to withdraw from the National Development Fund and allocate 1.5 billion euros for boosting the defense sector.

Iranian officials have repeatedly underscored that the country will not hesitate to strengthen its military capabilities, including its missile power, which are entirely meant for defense, and that Iran’s defense capabilities will be never subject to negotiations, Tasnim reported.

Iranian President Hassan Rouhani submitted the budget bill for the next Iranian year to the parliament on December 25, 2018.

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