site.btaEuropean SAFE Security Mechanism Will Boost Bulgarian Economy - MEP Novakov

In an interview for BTA taken here on Wednesday, Andrey Novakov MEP said the European SAFE security mechanism is a positive step for the Bulgarian defence industry and will also benefit other sectors of the economy such as metallurgy, information technology, aviation, cargo drone companies, among others.

Novakov stated that some 70,000 Bulgarian households rely on the defence industry for their income and suggested that this number will likely rise. He dismissed the risk that only certain countries would benefit from the SAFE mechanism and expressed satisfaction that Bulgaria has submitted nine projects, which are currently being worked on, and could receive over EUR 3 billion.

Novakov pointed out that the funds under the mechanism are indeed loans, not grant financing, but stressed that times are such that investments in the defence industry pay off very quickly because its products sell very well. He added: "I am glad that Bulgarian industry has managed to adapt and find new markets. [...] We are not stopping exports." The MEP pointed out that in 2025, Bulgaria exported military equipment worth over EUR 2 billion.

When asked whether there is a risk that funds will be directed to US industry due to technological backwardness in certain sectors, Novakov said that there is no such risk, as the instrument contains clear proportions in which European products are purchased, except in cases where there is no alternative, or the alternatives are too few. As an example, he cited the F-16 and F-35 fighter jets, as well as the Stryker combat vehicles that Bulgaria is expecting, which can only be purchased from the US. He continued: "But from then on, buying an IRIS-T air defence system, or French radars, or Bulgarian armoured infantry vehicles, is perfectly normal." He stated that Bulgaria is a leader in small arms, manufactures drones and anti-drone defence systems.