Settled Debts, 30% Growth: The Minister of High-Tech Industry Summarizes 2024
Minister of High-Tech Industry Mkhitar Hayrapetyan has summarized the activities carried out in 2024. He addressed developments in new defense technologies, the evaluation of the Armenian satellite by a Spanish company, and the debts of defense industry factories.
In 2024, Armenia’s state expenditures on the development of new defense technologies and research increased from 1.1 billion AMD in 2023 to 1.45 billion AMD.
Regarding the operation of the “ArmSat-1” satellite, Hayrapetyan noted that the results obtained from the satellite should concern no one other than its client, the Government of Armenia. The minister expressed dissatisfaction that the satellite’s developer, the Spanish company Satlantis, has been publicly assessing the satellite’s performance in Armenian media.
During the press conference, the minister stated that, for the first time after a long hiatus, Armenia’s major defense industry factories have settled their accumulated debts and registered profits in 2024. Many factory employees have received their long-overdue salaries.