Podcast in English
Text size
Bulgarian National Radio © 2024 All Rights Reserved

Bulgaria nears NATO standard for 2% of GDP spent for defense

Photo: BGNES

Bulgaria has planned to use 1.61 per cent of its gross domestic product for defense. That's 927 million USD for 2019. The rise is 0.3 percent compared to 2014, when Sofia spent 638 million USD or 1.31 percent of GDP. In NATO the US spends the largest share of GDP for defense - over 3.42%. Luxembourg is last with 0.55 per cent, as it has the highest GDP per capita in the EU - 66.000 euros. Montenegro allocates a little more money than Bulgaria as a percentage of its GDP - 1.65 per cent. Defense spending has risen steadily over the past 5 years. More and more countries are close to reaching the target of 2% of GDP for defense, NATO Secretary-General Jens Stoltenberg said.



Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

Bulgaria is in the top 3 EU countries with the highest ratios in ICT services: Eurostat

In 2021, the value added of the EU’s information and communication technology (ICT) sector was equivalent to 5.5% of the EU’s gross value added: 4.7% from ICT services and 0.8% from ICT manufacturing, Eurostat data show. Bulgaria is among the 3 EU..

published on 4/23/24 5:01 PM
The Bulgaria-Ukraine dairy producers meeting in Veliko Turnovo

Ukraine says it can double dairy raw material export to Bulgaria

The Dairy Union of Ukraine plans to double the export of raw materials on the Bulgarian market. This was made clear during the first meeting of the organization with the Bulgarian Association of Dairy Processors in Veliko Turnovo, BNR’s..

published on 4/23/24 3:16 PM
Vassil Bozhkov

Case against former gambling mogul Vassil Bozhkov goes to court

After 4 years of investigation, the Sofia City Prosecutor’s Office has submitted to court the indictment against former gambling mogul Vassil Bozhkov, and another 9 persons, including officials from the now dissolved State Commission on Gambling, who..

published on 4/23/24 2:59 PM