15:56, 15.02.24
Paris spent 30 billion euros on its military in 2017, but ultimately reached 69 billion euros.
France will achieve its goal for NATO members to spend 2 percent of GDP on defense in 2024, that is, earlier than previously predicted, French Armed Forces Minister Sebastien Lecornu said, writes Politico .
According to him, Paris is sharply increasing costs. France spent 30 billion euros on its military in 2017, but it will eventually reach 69 billion euros.
France’s defense budget stands at 47.2 billion euros this year and is expected to rise steadily in the coming years under the country’s seven-year military planning law.
According to preliminary forecasts, France initially planned to spend 1.94% of GDP on its defense budget in 2024 and did not expect to reach the 2% target until 2025.
Lecornu said dedicating 2% of GDP to defense is not enough because that money should also be used to buy more weapons. NATO has a target of 20% of defense funds going towards this purpose, while France already spends 30%.
On Wednesday, NATO Secretary General Jens Stoltenberg announced that 18 NATO members are on track to meet the alliance’s spending target. He called on 13 others to help achieve “fair” burden sharing with the United States.
(C)UNIAN 2024