In 2024, Bulgaria allocated .208 billion (3.964 billion leva) for defense, which represents 2.04% of its GDP. This marks the first time the country has met NATO's defense spending target, which was set in 2014 following Russia's annexation of Crimea. The target mandates that all NATO members spend at least 2% of their GDP on defense.

Based on the 2024 estimate, Bulgaria's GDP stands at 8.425 billion, translating to a per capita expenditure of approximately 9 on defense. While Bulgaria has achieved the NATO target, 16 other NATO countries exceed its spending. Notably, Poland has the highest defense spending in the alliance at 4.07% of its GDP, while Spain spends the least at 1.24%. The U.S. is estimated to allocate 3.19% of its GDP for defense, although President Donald Trump has advocated for a 5% target for NATO countries.

In terms of defense spending breakdown, 32.47% is dedicated to military equipment, 51.59% to personnel, and 4.56% to infrastructure. The remaining 11.37% is allocated to other defense-related expenses. As of 2024, Bulgaria's military personnel count stands at 26,900.