PARIS: The French government on Tuesday approved a key budget bill presented as the country’s biggest military spending spree in more than 50 years, underscoring the impact of Russia’s ongoing conflict with Ukraine.
The bill foresees 413 billion Euros (USD 450 billion) in military spending for the period covering 2024-2030 up by more than a third relative to the previous timeframe. Defence Minister Sebastien Lecornu said bill’s political, budgetary, military and technological drive is comparable to the huge push in the 1960s that saw France develop nuclear weapons, making the country one of the world’s major military powers.
Championed by French President Emmanuel Macron, the bill would notably modernise France’s nuclear arsenal, boost intelligence spending by 60 per cent, double the number of military reservists, reinforce cyberdefence and develop more remote-controlled weapons.