Bulgaria halts military industry privatisation

  • Roksolana Dryndak
  • 23.5.2017 14:12

At the beginning of May, Bulgaria has decided to halt the privatisation of several state-owned defence manufacturers, including the two most significant ones: VMZ Sopot and Kintex.

Money from the privatisation should be used to buy new fighter aircraft from Sweden, with which the Bulgarian Air Force intends to replace the outdated Soviet MiG 21s. In early May, Bulgarian President Radev called for balance to be maintained between the number of troops and the amount of necessary technology. Newly appointed Finance Minister Vladislav Goranov stated on 11 May that the role the mentioned companies play in the army's modernisation is expected to grow. The companies, who aside from small arms also produce grenades, controlled anti-tank missiles and grenade launchers, should be a part of the country's strategy to increase the military capacities of the Bulgarian army. Bulgaria should reach 2% GDP in defence spending by 2024. In relation to this, the acquisition of new military equipment has begun. Therefore, the country adopted a similar modernisation strategy as neighbouring Romania.

About author: Roksolana Dryndak

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