Iran's government has proposed a threefold increase in its defense budget as tensions with Israel escalate amid ongoing retaliatory attacks.

"Our defense budget will rise by 200%, a significant increase," government spokesperson Fatemeh Mohajerani announced on October 29. She emphasized that the government is prioritizing the country's defense needs.

The proposed increase is part of a budget plan submitted to parliament, expected to be finalized by March 2025. No further details were provided, and Iran has not disclosed exact defense spending figures. According to the Stockholm International Peace Research Institute, Iran's defense budget in 2023 was approximately $10.3 billion.

The budget increase comes amid growing tensions with Israel. On October 1, Iran launched nearly 200 missiles at Israel in retaliation for the deaths of two allied militant leaders from Hamas and Hezbollah. In response, Israel's Defense Forces (IDF) struck Iranian military facilities and air defense positions on October 26. Iran reported the loss of four soldiers and damage to radar systems.

On October 27, Iranian officials vowed to retaliate against the Israeli airstrikes, despite international calls from the U.S., France, and Germany for de-escalation.