April 22, 2011
Bulgaria would spend 1.5 billion U.S. dollars by 2020 on defense procurement, such as acquisition of new systems and support, officials said here Thursday.
Presenting the new investment plan for the next 10 years, Bulgarian Defense Minister Anyu Angelov said 13 projects, such as purchase of eight NATO-compatible multirole fighters and anti-ship missile complexes for three Bulgarian E-71 Wielingen class frigates were included in the plan.
Building a battalion battle group with the support of 16 MiG-29 fighters made up the backbone of Bulgaria's current air defense, Angelov said.
In addition, modernization of navigation systems and development of technical systems for strategic intelligence are part of the program, according to the minister.
Angelov said a risk assessment would be made for each of the 13 projects. "We will not undertake a project that has a high risk of failure," he said.
The minister said defense expenditure this year would be 40 million dollars and would reach 1.5 billion dollars in total by 2020 if the budget of the Defense Ministry iwa 1.5 percent of gross domestic product each year.