Bulgarian National Radio © 2021 All Rights Reserved

Modernization of Bulgarian Armed Forces until 2032 will cost EUR 15 billion

Bulgaria’s Chief of Defense Admiral Emil Eftimov
Photo: Bulgaria's Ministry of Defense

The complete modernization of the Bulgarian Armed Forces until 2032 will cost EUR 15 billion, Bulgaria’s Chief of Defense Admiral Emil Eftimov said on occasion of the Day of the Bulgarian Army - May 6. We are looking for mechanisms to reduce the price, Admiral Eftimov said. Currently, the assets of the Bulgarian army amount to nearly EUR 25 billion. However, most of the military equipment is over thirty years old. We need to develop 180 new defense capabilities. That is why, spending on defense should reach 2% of the country’s GDP by 2024, the defense review estimates show. Despite the crisis, we don’t agree with the ideas that the projects for acquisition of new infantry machinery and navy ships should be postponed, Admiral Eftimov says further.


More from category

Minister of Education Prof. Nikolai Denkov

Education Ministry to propose legislative amendments for depoliticization of education system

The Ministry of Education will propose legislative amendments to ensure the complete depoliticization of the system of education, interim Minister of Education Prof. Nikolai Denkov announced. In his words one-third of the directors of the..

published on 6/22/21 3:55 PM

Recovery programme launched in support of SMEs

SMEs will be able to receive credit from commercial banks with an 80% guarantee from the Fund of Funds, the remaining 20% will be a risk borne by the bank itself. The measure is part of the recovery programme announced today by Minister of..

published on 6/22/21 3:12 PM

National Association of Municipalities wants post-Covid recovery plan to be submitted to EC urgently

The National Association of Municipalities demanded, at a meeting with interim Prime Minister Stefan Yanev, that the national post-Covid recovery plan be submitted to the European Commission urgently. On his part PM Yanev said: “We have set..

published on 6/22/21 2:20 PM