France entered the period of military economy – Macron
French President Emmanuel Macron spoke at the Eurosatory International Defense Salon near Paris on Monday. During his speech, he said that France is entering a ‘period of military economy’ and will increase its weapons, writes Ouest France.
The head of state wants to revise the law on military expenditures for 2019-2025 to make them relevant to threats in connection with the current geopolitical situation – in particular, in connection with the war in Ukraine.
Macron also called on the European Union to develop an innovation strategy to strengthen the European defense industry.
The publication notes that France has been increasing defense spending since 2017 after many years of underfunding. In 2022, France’s military budget has increased to 40.9 billion euros, and in 2025 it is planned to reach 50 billion euros.
According to SIPRI, global military spending in 2021 reached record highs. For the first time in history, they exceeded $2 trillion, amounting to $2113 billion.
France ranks sixth in the ranking, immediately after Russia.
