France had aimed to double its defence budget from 2017 levels by 2030. However, Macron pledged to reach the target by 2027. A military budget that stood at 32 billion euros ($37.40 billion) in 2017 will rise to 64 billion euros by 2027, with an additional 3.5 billion euros allocated for next year and another 3 billion euros in 2027.

Macron called for a 3.5 billion-euro hike in defense spending next year and for another 3 billion-euro boost in 2027.

President Emmanuel Macron said France will make a “new” and “historic” effort to increase defense spending to counter an acceleration of threats to freedom in Europe and the risk of outright war in the coming years.