PARIS, July 14: In light of the NATO and the EU’s decision to increase its military budget, citing security issues amid the Russia-Ukraine war and Moscow’s increasing foothold into Ukrainian territory, French President Emmanuel Macron announced a significant increase in the country’s military budget, stating that it will rise to 64 billion euros ($74.8 billion) by 2027- double the level of 2017.
“In 2017, the military budget was 32 billion Euros. According to our law on military planning, we agreed to double it by 2030. But we will do it by 2027. This will be a new historic effort. By 2027, our military budget will double to 64 billion euros,” Macron said in his annual address to the French Armed Forces today on the eve of the national holiday, Bastille Day, which was broadcast on the official Elysee Palace account on X.
“To be free in this world, you must be feared. To be feared, you must be powerful,” he added, stating the world was witnessing the return of nuclear power and the “proliferation of major conflicts,” reports BBC.
He mentioned the various conflicts which have been taking place worldwide, referencing the 12-day-Israel-Iran war with Israel’s bombings in Tehran, the US bombing of Iranian nuclear sites on June 22, the India-Pakistan conflict post the Pahalgam terror attack which saw India aggressively attacking Pakistani military facilities and terror bases, and the Russia-Ukraine war, where Russia continues to push forward.
Since his return to office in January, US President Donald Trump has been pushing the idea of greater military spending by US partners, including the members of NATO, and has also asked the EU to increase its military budget.
The June 24-25 NATO summit in The Hague raised the target threshold for defence spending by alliance members from 2 per cent to 5 per cent of the bloc’s GDP, which countries are expected to reach by 2035.
Discussions are also ongoing in the EU, calling for a review of its military budget and to increase it further, calling Russia a ‘threat’ to European security.
(UNI)
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