Monday, March 4, 2024
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Bulgarian Government Increases Defence Spending to Meet Investment Projects’ Requirements 

On 21 December 2023, the Bulgarian Parliament approved the State Budget of the Republic of Bulgaria for 2024 and the updated medium-term budget forecast (MBF) for 2024-2026. The Act provides an increase of the defense spending for 2024 amounting to 2.05% of GDP, with 2.00% of GDP calculated in 2025, and 2026 – 2.23% of GDP.

Spending covers mainly the priority Investment Projects for the modernization of the Bulgarian Armed Forces published at Why to exhibit at “Hemus 2024” – INTERNATIONAL EXHIBITION “HEMUS” – DEFENSE, ANTITERRORISM, SECURITY.

Additionally, Bulgaria has recently started to get a lot of attention from the international defence industry due to press coverage of a proposed €6BN billion investment in NATO infrastructure and general rearmament of the nation’s armed forces.

Due to the above, the Hemus 2024 Exhibition enjoys growing interest from a broader audience who see an opportunity in Bulgaria.

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