Iran says it's defense budget is 'insufficient'
Iran's defense budget is not sufficient given the current foreign threats to the country, Deputy Commander of the Iranian Armed Forces, Coordination Division Brigadier General Mohammad Hossein Dadras said on July 5.
"Among 16 countries in the region, Iran ranks 15 in terms of its defense budget, but the country's military capabilities are acceptable," the Mehr News Agency quoted Dadras as saying.
He went on to say that Iran is currently self-sufficient in producing military hardware.
Earlier, the Iranian parliament (Majlis) approved the allocation of $5 billion to the national defense budget. The allocated budget is close to last year's defense budget.
Iran's defense budget was increased 127 percent to around $5 billion during the last solar year, which started on March 19, 2012.
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