France’s defense budget will be increased by a third, to 400 billion euro, in the period from 2024 to 2030, French President Emmanuel Macron said on Friday.
“Funds allocated to defense will be increased by a third in the period from 2024 to 2030,” he said at a meeting with the French army command at the Mont-de-Marsan airbase. The president’s speech was aired on the Elysee Palace’s Twitter account.
According to Macron, the defense budget will reach 400 billion euro.
France’s defense spending for 2019-2025 was planned at 295 billion euro.
The country’s defense budget “will go to reform the army amid the conflict in Ukraine,” Macron said. “The planned efforts will be proportional to the existing threats. France has and will have an army capable of confronting present-day challenges.”
A bill envisaging the growth of defense spending will be submitted to the French parliament in March.
