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1h ago

Macron Fast-Tracks Defence Budget to €64 Billion by 2027

He will finance an extra €6.5 billion through economic growth rather than new borrowing, with Prime Minister Bayrou set to outline the funding details in Tuesday’s budget address

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,
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Overview

  • Macron accelerated the original 2030 target by three years, pledging to double annual defence spending from €32 billion in 2017 to €64 billion by 2027
  • He earmarked additional allocations of €3.5 billion for 2026 and €3 billion for 2027, insisting these boosts be funded through increased activity and production instead of new debt
  • Chiefs of staff including General Thierry Burkhard warned of a persistent Russian threat to Europe, reduced U.S. engagement and hybrid attacks such as cyber-espionage and disinformation
  • A National Strategic Review, due imminently, will reassess France’s defence posture and Defence Minister Sébastien Lecornu has been tasked with initiating a European dialogue on nuclear deterrence
  • Prime Minister François Bayrou will present detailed savings and financing measures for the 2026 budget on Tuesday, with the defence envelope declared sacrosanct