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Azeris to Boost Defense Spending Amid Risk of Armenia War

Azerbaijan, the third-largest oil producer in the former Soviet Union, will look past falling crude prices and increase military spending by more than a quarter next year as tensions escalate with neighboring Armenia.

Defense outlays will grow 27 percent to 3.8 billion manat ($4.8 billion), exceeding Armenia’s total budget spending of $3.2 billion, Finance Minister Samir Sharifov said today.