Bulgaria to Spend BGN 1 B as NATO Ally

Politics | April 1, 2005, Friday // 00:00| Views: | Comments: 0
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Bulgaria will need about BGN 1 B to fulfil its engagements to NATO, Defense Minister Nikolay Svinarov announced Friday.

This is the approved Defence Ministry's financial framework by the year of 2010. The sum is conformed to the macro frame of the Finance Ministry for this period, Svinarov also said.

The money is envisaged for acquiring new technical equipment and modernization of the old one. Financial means are to go also for the personnel's training to use the new equipment and for constructing the necessary infrastructure.

As a possible finance sources for Bulgaria's army modernization the Ministry sees part of the budget, related to the capital investments, as well as the privatisation of some of the commerce unions within the Ministry.
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