Bulgaria Tops 2019 Global Ranking Of Military Spending Increase – Sipri

Bulgaria recorded the biggest relative increase in military spending globally last year due to the purchase of combat aircraft, a new report of the Stockholm International Peace Research Institute (SIPRI) shows.

The military expenditure of Bulgaria soared 127% in 2019 to a total of $2.127 billion (1.955 billion euro) as a result of the full payment for eight new combat aircraft ordered last year, SIPRI said in its “Trends in World Military Expenditure, 2019” report published on Monday.

In August 2019, Bulgaria’s defence ministry said it transferred to the US Defence Security Cooperation Agency (DSCA) in full the agreed sum of $1.2 billion for the delivery of eight F-16 Block 70 fighter jets along with the related equipment and weapons from the United States. 

Elsewhere in Southeastern Europe, Serbia ranks fifth with a $1.144 billion in military spending in 2019, up 43% on 2018. North Macedonia follows in sixth place, with a 30% rise in military expenditure to $151 million.

Bulgaria and Romania increased their military spending in the period between 2010 and 2019 by more than 165% and 154%, respectively, SIPRI said.

Global military expenditure rose to $1.917 trillion in 2019, an year-on-year increase of 3.6%, according to SIPRI. The sum represents 2.2% of the global gross domestic product, which equates to approximately $249 per person.

SIPRI is an international institute based in Sweden, dedicated to research into conflict, armaments, arms control and disarmament. Established in 1966, SIPRI provides data, analysis and recommendations, based on open sources, to policymakers, researchers, media and the interested public.

Read More

Property Acquisition Checks On Top Officials To Be Mandatory

Bulgaria’s Chief Prosecutor Sotir Tsatsarov has ordered checks into property acquisitions by the Head of the anti-corruption commission, Plamen Georgiev, the son...

Bulgaria & Macedonia To Work Towards Joint Border Control

Bulgaria’s Deputy Prime Minister Tomislav Donchev and Macedonian Deputy Prime Minister for Economic Affairs Kocho Angushev agreed to work together for relieving...

Borissov: Bulgaria Will Start To Import Liquified Gas From Next Year

"Next year, by this time, Bulgaria will be able to supply liquefied natural gas from the US, Qatar, Cyprus, Egypt, Azerbaijan." The start was given in...

Recent

Bulgaria Has Improved In 16 of the 26 World Economic Rankings

Bulgaria has improved its position in 16 of the 26 world economic rankings. This is indicated by the data from the Bulgaria in Figures survey...

Regional Employment Programs To Provide Unemployed With 2400 Jobs

At the beginning of June, 28 regional programs will be launched, reported NOVA TV.  At the beginning of June, 28 regional...

Alterco Looking To Raise $5.1 Million Via Share Offering

Bulgarian telecommunications and IoT company Allterco said on Monday that it will seek to raise up to 9 million levs ($5.1...