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Bulgaria to invest more than $2.3 billion in defence by the end of 2024

published on 6/18/24 11:18 AM

Photo: Archive

Bulgaria will invest 2.18 per cent of its GDP in defence this year, according to documents released by NATO ahead of its July 2024 summit in Washington.

The country's 2024 defence spending is expected to be $2.325 billion, up from $1.992 billion in 2023. The data show a sustained increase in defence investment since 2020. However, the average number of army personnel is 0.6 per cent lower than in 2014, when NATO countries set a target of two per cent of GDP for defence spending, according to statistics cited by BTA.

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