Paris: French President Emmanuel Macron has announced plans to double the country's defense budget by 2027, compared to its 2017 level. The announcement was made during his speech on the eve of Bastille Day, addressing the armed forces at the Hotel de Brienne in Paris.

According to Anadolu Agency, Macron stated that the defense budget in 2017 was £32 billion ($37 billion). An additional £3.5 billion ($4 billion) will be allocated in 2026, followed by a further £3 billion ($3.5 billion) in the next year. This will bring the total defense allocation to £64 billion ($74 billion) by 2027. Macron described this increase as a "new and historic effort," noting that it is "twice" the budget the French armed forces had in 2017.

Macron emphasized that the update to the military programming law will be presented this autumn and that the rearmament will not be funded through debt. He urged parliamentarians to ensure the budget is passed on time without delay. Macron also called on Europeans to ensure their own security, emphasizing that their freedom has "never" been so "threatened since 1945."

In his speech, Macron highlighted the importance of being powerful to maintain freedom in the world and pointed to the challenges that lie ahead for the nation. He reiterated the necessity to strengthen capabilities, forces, and the nation as a whole in response to "multi-form" and "multi-layered" challenges.