Paris [France], July 14 (ANI/WAM): French President Emmanuel Macron announced on Sunday evening an acceleration of national defence spending, with the budget set to reach EUR64 billion by 2027 instead of the previously scheduled 2030 target.
The announcement came during Macron's traditional address to the armed forces on the eve of Bastille Day, amid what he described as a "deeply concerning" shift in the global security landscape.
Macron confirmed that the increased funding would not be financed through borrowing but rather by stimulating the national economy. An additional EUR3.5 billion will be allocated in 2026, followed by EUR3 billion in 2027, nearly doubling France's defence expenditure compared to 2017 levels.
He explained that the extra funds would address critical shortcomings, including ammunition shortages, and support the development of smart and precision weaponry, as well as capabilities in unmanned aerial systems, space defence and electronic warfare. The budget will also support the modernisation of ground-based air defence systems.
Macron also announced that he had tasked the Minister of the Armed Forces with initiating a strategic dialogue with European partners on the future role of France's nuclear deterrence, with the outcome to be presented by the end of the year. (ANI/WAM)