Bulgaria Seeks Defence Budget Exception for Euro Zone Entry

Bulgaria aims to exclude defence spending from its budget deficit to satisfy euro zone entry requirements. Pressured by EU's rearmament initiatives, Sofia's Prime Minister discussed this with European Council leaders to secure a national derogation clause for heightened defence expenditures due to ongoing geopolitical tensions.

Bulgaria's government is negotiating to exclude defence spending from its budget deficit figures as it works towards joining the euro zone. According to BTA news agency, Prime Minister Rosen Zhelyazkov emphasized this request in talks with European Council President Antonio Costa, aiming to align with EU's strategic objectives.

The ongoing conflict in Ukraine has highlighted the necessity for increased defence budgets across European Union countries. The European Commission has suggested that such expenditures might be exempt from existing debt restrictions imposed on member nations as part of rearmament plans.

Zhelyazkov revealed Bulgaria's defence spending would exceed 2% of GDP and might increase further if exceptions are granted. This approach underscores Sofia's dedication to integrating with euro zone norms while responding to global security challenges.

(With inputs from agencies.)