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 nationa...