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Macron Accelerates French Defence Budget to €64 Billion by 2027

Extra allocations for 2026 and 2027 will be financed through economic growth rather than new borrowing

France's President Emmanuel Macron delivers a speech to army leaders, on the eve of the annual Bastille Day Parade in the French capital, at l'Hotel de Brienne in Paris, France July 13, 2025.     LUDOVIC MARIN/Pool via REUTERS
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Members of the French military listen to the French President Emmanuel Macron's (not pictured) address,

Overview

  • Macron moved up the goal of doubling annual defence spending from €32 billion in 2017 to €64 billion by 2027, earmarking €3.5 billion for 2026 and €3 billion for 2027
  • He cited a sustained Russian threat, U.S. strategic uncertainty, hybrid warfare and the war in Ukraine as reasons for the accelerated plan
  • The president stressed that military independence is tied to financial autonomy, pledging growth-driven funding instead of increased debt
  • Top officials, including Armed Forces Minister Sébastien Lecornu and Chief of the Defence Staff Thierry Burkhard, have been ordered to launch a Europe-wide strategic dialogue on France’s nuclear deterrent while mobilising all government departments
  • Prime Minister François Bayrou will outline how the 2026 budget will absorb the extra defence allocations in a Tuesday address as he works to secure €40 billion in savings