Iran Proposes Tripling Military Budget Amid Escalating Tensions with Israel

Iran’s government has announced plans to triple its military budget, as tensions with Israel escalate following recent missile exchanges. Government spokeswoman Fatemeh Mohajerani revealed that the proposal would result in a more than 200% increase in military spending, although exact figures were not provided. The Stockholm International Peace Research Institute estimates Iran’s military budget for 2023 at approximately $10.3 billion.
The budget proposal is set to be debated by lawmakers, with a final decision expected in March. Mohajerani emphasized that the plan aims to address the country’s defense needs, particularly in light of recent Israeli airstrikes on Iranian military sites in retaliation for an October 1 attack by Tehran. That attack marked Iran’s second direct strike against Israel, involving the launch of 200 projectiles.
In the wake of the escalating conflict, Israeli Defense Minister Yoav Gallant stated that Israel’s strikes had weakened Iran’s military capabilities, altering the balance of power between the two nations. As the situation unfolds, Iran’s significant military budget increase underscores its commitment to enhancing its defense capabilities amid ongoing hostilities.