World Defense Expenditure: Bulgaria with a Record Jump in 2019

Society | January 9, 2020, Thursday // 17:15| Views: | Comments: 0
Bulgaria: World Defense Expenditure: Bulgaria with a Record Jump in 2019

Bulgaria's defense spending rose significantly in 2019 - by 125%, according to a report released by the information-analytical agency Jane's, world agencies and BTA reported.

Exprets explained that the reason for the rise is the payment for the eight F-16 planes which was made back in August.

Globally, defense spending in 2019 exceeds $ 1.8 trillion.

"This result is largely due to the increased defense spending of European countries," Janes' experts said. According to the report, the rise in global defense spending in 2019 slowed to 1% versus 6% in 2018.

"While most regions have experienced a decline, spending by European countries in this area has grown by 5.2%. Moreover, six of the ten biggest increases in defense budgets in 2019 are from European countries," analysts said.

According to Jane's global defense spending will increase by 1.5 to 2 percent each year over the next decade.

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