Iran approves $5-billion military budget
The Iranian parliament has approved the allocation of $5 billion to the national defence budget, Fars news agency reported on May 12.
The allocated budget is almost close to last years' defence budget in value.
Iran's defence budget had been increased by 127 percent to around $5 billion in last solar years' budget, which started on March 19, 2012.
In April, Iranian Deputy Army Commander, Brigadier General Kioumars Heydari said the army will unveil new pieces of military hardware in an exercise which will be held soon.
Several domestically manufactured personnel carriers, anti-aircraft weapons and a missile launcher will be unveiled in the war games, he said.
On May 10, Iran unveiled a new domestically manufactured stealth unmanned aerial vehicle (UAV), named the Hamaseh.
The capability to fly at higher altitudes for a longer range distinguishes the Hamaseh from other Iranian-made drones.
Iranian Defence Minister Ahmad Vahidi said that the UAV was capable of conducting surveillance, reconnaissance and combat missions simultaneously.