Macron: France's defense budget to reach EUR 64 billion by 2027

French President Emmanuel Macron has said that France's defense budget will double by 2027 compared to the budget when he took office in 2017.

"The budget will reach EUR 64 billion, that is, it will double compared to 2017, and by 2027, and not by 2029, as previously planned," Macron was quoted as saying by Bloomberg.

The French leader specified that to achieve the planned figure, an additional EUR 3.5 billion must be allocated in 2026 and EUR 3.2 billion in 2027.

"To be free in this world, you need to be feared, and to be feared, you need to be strong," the president explained the desire to increase defense spending.