Macron: Military Budget to increase to $433Bln between 2024 and 2030

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Military spending in France is to reach $433 billion in the 2024-2030 cycle, according to a Friday statement by French President Emmanuel Macron, who noted that the new spending budget marked an increase of $113 billion increase from $320 billion in the 2019-2025 cycle.

At an address to the army at the Mont-de-Marsan air base, Macron noted "The law on military programming (LPM) for 2024-2030 reflects the efforts made by the state to strengthen its army. They are proportionate to current dangers, which are significant. In 2024-2030, the government will allocate 400 billion euros ($433 billion) to the defense ministry."

The President noted that part of the spending will be directed towards increasing the power of French air defense systems 2-fold. French intelligence will also receive a 60% budget increase in the next 7-year cycle.

Macron further noted that non-budgetary spending, which will reach approximately $14 billion, will also be spent on infrastructure and other related matters.

Regarding the continued efforts to modernize the French nuclear deterrence forces, Macron emphasized that $6 billion will be allocated to that purpose, in 2023 alone.

The budget increase, the French President argued, came against the backdrop of the war in Ukraine. He explained that the French military must "reform and transform" if it is to be able to operate both within NATO and independently.

"It is necessary to pay special attention to the speed of response and build up the power of our army, because we do not choose the conflicts in which we might have to participate," Macron added.

Furthermore, Macron emphasized that in order to remain competitive, France should invest in military-related new technologies, such as the development of quantum computers and artificial intelligence.

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