Bulgaria’s Real Estate Market and the Euro: What to Expect After Adoption
The question of how Bulgaria’s adoption of the euro will influence the real estate market has sparked considerable interest among property owners
Bulgaria is actively defending its national interests within NATO, according to Defense Minister Atanas Zapryanov. Speaking at a discussion titled “The Hague 2025: The Horizon Before NATO and the Bulgarian Vision” in Sofia, he emphasized the country’s role as a proactive NATO member. Zapryanov pointed out that Bulgaria is not just a participant in the alliance but an active contributor, with equal influence alongside larger nations in shaping NATO's decisions.
Read also: Bulgaria Achieves NATO's 2% Defense Spending Target for the First Time
In his remarks, Zapryanov stressed that while NATO membership was achieved, the work does not end there. The country must continue to advocate for the role NATO plays in ensuring security. With the upcoming NATO summit in The Hague scheduled for June 24-25, Zapryanov highlighted the importance of the preparations underway, including critical decisions to be made at the May defense ministers' meeting.
Modernization Urged for National Defense
The defense minister also underscored the importance of showcasing the benefits of NATO and EU membership to the public. He warned that without modernization of the country’s defense industry, Bulgaria risks becoming obsolete on the European arms market in the next five to six years. Zapryanov described this as a crucial historical moment, emphasizing that failing to develop Bulgaria's armed forces and military industry would compromise national security and collective defense, which would be politically unacceptable.
Increased Defense Spending and NATO's Future
Zapryanov addressed the issue of defense spending, acknowledging that the current 2% of Bulgaria's GDP allocated to defense is insufficient. While the country is set to exceed this figure slightly, reaching 2.09% this year, he stressed that this level of spending will not allow the necessary acceleration in military modernization. There is ongoing debate about whether defense spending should be raised to 3-3.5%, but the minister suggested that any such increase would not be a promise but a commitment to NATO allies.
The minister also noted that Bulgaria shares the majority view within NATO that defense spending should align with the new goals for military capabilities. Zapryanov plans to submit a report to the Bulgarian government next week, detailing the necessary investment required to meet the country’s defense goals by 2045.
Key Policy Changes for Bulgaria’s Defense Industry
Zapryanov revealed two significant topics that will be addressed soon. First, Bulgaria intends to support a European Commission decision to exclude capital expenditures for military modernization from the country’s fiscal deficit calculations. The second, more challenging, issue concerns transforming Bulgaria’s Warsaw-based defense industry to align with NATO standards.
In closing, Zapryanov spoke about the “Living Archives” publication, which provides insights into Bulgaria’s NATO accession process. The book offers valuable information on one of the pivotal events of the early 21st century that shaped the country’s foreign policy and defense strategies.
Bulgarian Minister of Defense Atanas Zapryanov and his French counterpart, Minister of the Armed Forces Sébastien Lecornu, signed a framework agreement on June 16
Israel has launched a large-scale military operation against Iran, striking what it claims are nuclear and military targets.
Chief of Defense Admiral Emil Eftimov stated that Bulgaria’s objective is to unlock the full potential of the American-made F-16 fighter jets
Despite Ukraine’s recent military success targeting Russian aircraft, Russian President Vladimir Putin has shown no real inclination to engage in meaningful peace talks
Six more F-16 fighter jets are expected to be delivered to Bulgaria by the end of the year, Chief of Defense Admiral Emil Eftimov announced
Bulgaria welcomed its second F-16 Block 70 aircraft on June
Borderless Bulgaria: How Schengen Benefits Are Transforming Trade and Logistics
Bulgaria's Mortality Rate Remains Highest in Europe