Iran plans to triple its defense budget

“Iran’s defense budget will increase by 200%, this is a significant increase,” Iranian government spokesman Fatemeh Mohajerani announced on October 29. “We have made every effort to meet the country’s defense needs and paid special attention to this issue.”

The additional spending is included in the budget proposal that the Iranian government submitted to parliament for approval, with this process expected to be completed in March 2025.

Ms. Mohajerani did not release additional related details, nor did Iran release data on its defense budget. According to the Sweden-based Stockholm Peace Research Institute, Iran’s defense budget for 2023 is about $10.3 billion.

Iran plans to supplement its defense budget as tensions between the country and Israel heat up after a series of tit-for-tat raids. Iran on October 1 launched nearly 200 missiles at Israel, saying this was a retaliation campaign for the death of the leaders of two allied armed groups, Hamas and Hezbollah.

The Israel Defense Forces (IDF) on October 26 attacked a number of Iranian military facilities and air defense sites in response to a missile launch in early October. Tehran said that four soldiers were killed and several others. Radar system damaged.

Iranian officials announced on October 27 that they would “use all available means” to respond to Israel’s airstrike. Many countries such as the US, France, and Germany have called on Tehran not to retaliate to de-escalate tensions.