Iran has announced plans to triple its military budget, reflecting escalating tensions with Israel amid ongoing military confrontations in Gaza and Lebanon.

Government spokeswoman Fatemeh Mohajerani confirmed the proposal on Tuesday, stating that the significant increase in defence spending, amounting to 200 percent, is pending parliamentary approval.

The proposed budget, which aims to enhance Iran’s military capabilities, will be debated by lawmakers, with a final decision expected in March 2025.

Iran's military expenditure was approximately $10.3 billion in 2023, according to the Stockholm International Peace Research Institute (SIPRI).

In contrast, the Council on Foreign Relations noted that the United States provided Israel with at least $12.5 billion in military aid from October 2023 to April 2024.

In response to recent Israeli airstrikes on military installations in Iran, which resulted in the deaths of four soldiers, the urgency for increased defense measures has intensified. On Saturday, the Israeli military targeted about 20 sites across Iran, marking a significant escalation in hostilities.

“This attack on our soil is unprecedented since the Iran-Iraq War of the 1980s,” reported Al Jazeera’s Resul Serdar from Tehran, highlighting a growing sense of vulnerability within Iran.

The renewed hostilities come after Iran fired approximately 200 missiles and drones at Israel on October 1, retaliating against perceived threats to its military leaders, including those affiliated with Hezbollah and Hamas.

As tensions mount, Iranian officials are reevaluating their defense strategy. “Tehran’s doctrine has always been to keep the war away from our borders; however, the likelihood of a conventional conflict within our territory is becoming increasingly real,” Serdar emphasized.

In a firm statement, Iran vowed to utilize “all available tools” to respond to the Israeli strikes. Meanwhile, the United States issued a stark warning to Iran, promising “severe consequences” should it engage in further aggression against Israel.

“We will not hesitate to act in self-defense. Let there be no confusion,” asserted Linda Thomas-Greenfield, the US ambassador to the United Nations, during a Security Council meeting.