French President Emmanuel Macron on Sunday announced 6.5 billion euros ($7.6 billion) in extra military spending in the next two years because of new and unprecedented threats, ranging from Russia to nuclear proliferation, terrorists and online attacks.
The French leader laid out the spending plans in a sweeping speech calling for intensified efforts to protect Europe, and support Ukraine in its war against Russia's full-scale invasion. He said France will aim to spend 64 billion euros ($74.8 billion) in annual defense spending in 2027, the last year of his second term. That would be double the 32 billion euros in annual spending when he became president in 2017.
