Macron sets accelerated target to double France's defence budget by 2027

French President Emmanuel Macron has reaffirmed his commitment to significantly increasing France's defence capabilities, announcing an accelerated timeline to double the military budget. In his annual address to the armed forces on the eve of Bastille Day, Macron stated the goal is now to reach €64 billion (approximately $74.8 billion) by 2027, three years ahead of the original 2030 schedule.

A Decade of Defence Investment

Macron emphasised the consistency of the effort, noting that over ten years the budget would double, with annual commitments being met "down to the last euro." He highlighted that France had already achieved its NATO commitment of spending 2% of GDP on defence by 2025, enabling the country to strengthen its armed forces ahead of multiple international crises, including the war in Ukraine, instability in the Sahel, and tensions in the Middle East.

The War Economy and European Defence

While acknowledging the progress, Macron cautioned that "the war economy" still requires additional public and private investment. He reiterated his support for stronger European defence cooperation, stating that Europe is becoming a power capable of assuming greater responsibility for its own security. However, he also expressed "deep regret" over the failure of the Future Combat Air System (FCAS) project, a joint French-German-Spanish programme to develop a next-generation fighter jet, and called on European partners to persist in pursuing common defence initiatives.

Context of European Rearmament

Macron's announcement comes amid a broader European push to increase defence spending, driven by Russia's invasion of Ukraine and a reassessment of transatlantic security commitments. France's accelerated timeline signals a sense of urgency to address military readiness and strategic autonomy, even as cooperation with key European allies faces setbacks.