site.btaPM Glavchev: Defence Spending to Reach 2.18% of GDP in 2024

Caretaker Prime Minister Dimitar Glavchev spoke at the NATO 75th Anniversary Conference, organised by the Atlantic Club of Bulgaria in Sofia on Monday. Speaking at the event, Glavchev said Bulgaria is actively modernizing its armed forces and steadily increasing its defence spending.

“This year, we will not only reach but surpass the minimum target of 2%, achieving 2.18% of GDP,” he said.

Glavchev said that NATO bolsters national security while fostering democratic values, economic freedom, stability, investment growth, and national prosperity. He added that NATO represents a long-term vision for a collective future.

Speaking of Bulgaria's commitment to the Euro-Atlantic alliance during the Washington NATO summit and confirming its role as a steadfast supporter of the rule-based international order, Glavchev said that it was acknowledged at the forum that Russia poses the primary threat to the alliance, necessitating a revised strategy for containment. This strategy includes bolstering deterrence and defence capabilities and improving the resilience against Russian hybrid and cyber threats, particularly on the eastern flank and in the Black Sea region.

"Bulgaria is actively working to improve the deterrence and defence capabilities on the eastern flank, meeting its obligations effectively", Glavchev added.