Bulgaria Defence & Security Report Q4 2014
Bulgarian defence spending has fluctuated in recent years while broadly maintaining a downward trend. In 2014 we expect the country to spend around USD620mn on defence, down from USD670mn in 2011 and USD601mn in 2012. However, in 2013 the defence budget rose to USD631mn, and although we see a drop in 2014, over the rest of the forecast period the defence budget will rise, reaching USD721mn in 2018.
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