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Macron announces significant increase in France's defense budget

21 January 2023 20:51 (UTC+04:00)
Macron announces significant increase in France's defense budget

In order to equip the French army to combat the great "perils" of this century, President Emmanuel Macron announced on Friday that France will increase its military spending by more than a third in the coming years, Azernews reports citing Euronews.

The budget for the period will stand at €413 billion, a significant increase from the €295 billion allotted to 2019-2025. According to this plan, by 2030, France's military budget would have doubled since he took power in 2017, Macron said.

The French leader acknowledged the end of the "peace dividend" following the Cold War, and said the planned 2024-2030 budget would adapt the military to the possibility of high-intensity conflicts.

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