France's Macron announces increase in defence spending in 2024-2030
Reuters | Updated: 20-01-2023 17:41 IST | Created: 20-01-2023 17:17 IST
French President Emmanuel Macron on Friday said 400 billion euros ($433.16 billion) would be assigned to the military budget in 2024-2030, up from 295 billion euros in 2019-2025.
The 2019-2025 defence bill was meant to start building capacities back up after chronic underinvestment in the previous decades, Macron said.
He branded the new 2024-2030 budget a "transformation" programme to adapt the military to the possibility of high-intensity conflicts, made all the more urgent since Russia's invasion of Ukraine. ($1 = 0.9234 euros)
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