Bulgarian Defense industry Contributes Over 4% to GDP in 2024,Minister Announces
Sofia,bulgaria – September 8,2024 – The Bulgarian defense industry generated revenue exceeding 4 percent of the nation’s Gross Domestic Product for 2024,according to a statement released today by Minister of Economy and Industry,Petko Nikolov. This marks a important contribution to the Bulgarian economy, highlighting the sector’s growing importance and potential for further development.
The considerable economic impact underscores the strategic value of Bulgaria’s defense capabilities,both for national security and economic prosperity. The figure represents a considerable investment in domestic production, technological advancement, and employment within the sector. This revenue stream supports not only the defense industry itself but also related supply chains and ancillary businesses across the country.The Ministry anticipates continued growth in this area, driven by ongoing modernization efforts and increased international partnerships.
According to data presented by the ministry, the defense industry’s contribution to GDP has been steadily increasing in recent years, reflecting Bulgaria’s commitment to strengthening its defense infrastructure and capabilities.The sector currently employs thousands of skilled workers and contributes significantly to export revenues.
As of September 8, 2024, an average user rating of 2.5 out of 5 stars, based on 13 votes, has been recorded for related news coverage on Fakti.bg.
