Bulgaria Expects this Year to Reach Defense Spending Equal to 1.56% of GDP

This year, Bulgaria is expected to achieve defense spending equal to 1.56 per cent of gross domestic product (GDP). This shows data provided by NATO.

Nearly one third of these funds will target acquisition of equipment and the increase is multiplied by 2014, nearly nine per cent above the average target in the alliance. It is planned that our country will allocate nearly 1.64 billion leva this year, and this amount does not include funds for retired soldiers.

Since 2011, these are the most significant defense expenditures in Bulgaria, according to data. For the same period Bulgaria's GDP has grown from 52 to 61 billion dollars a year. While they are constantly rising, spending per capita in Bulgaria remains among the lowest in Europe over the past seven years.