NATO: Bulgaria Increased Defense Spending by 7.49% compared to Last Year

Politics » DEFENSE | June 27, 2022, Monday // 16:48
Bulgaria: NATO: Bulgaria Increased Defense Spending by 7.49% compared to Last Year Resigned Bulgarian Prime Minister Kiril Petkov (left) and NATO Secretary-General Jens Stoltenberg (right) @Council of Ministers

Bulgaria this year increased defense spending by 7.49 percent compared to last year, according to NATO estimates presented today. This year, the country will spend 1.67 percent of GDP on defense.

Of the 30 countries in the alliance, only the United States, Greece, Poland, Lithuania, Estonia, Britain and Latvia have already reached the target of defense spending equal to two percent of GDP, the data show.

Our country invests 22.6 percent of defense funds in providing equipment. Most NATO countries, like ours, meet the goal of spending 20 percent of military spending on defense.

For the eighth year in a row, there has been an increase in defense spending in the alliance”, NATO Secretary-General Jens Stoltenberg told a news conference. He noted that 19 more pact countries are expected to achieve military spending equal to two percent of GDP by the end of the year, and this will continue to be the minimum expected of the allies.

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Tags: NATO, GDP, Bulgaria, defense
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