France had aimed to double its defence budget from 2017 levels by 2030. However, Macron pledged to reach the target by 2027. A military budget that stood at 32 billion euros ($37.40 billion) in 2017 will rise to 64 billion euros by 2027, with an additional 3.5 billion euros allocated for next year and another 3 billion euros in 2027.

The French president has announced €6.5 billion in extra military spending in the next two years. He said Europe is under a greater threat than at any point since the end of World War II.

French President Emmanuel Macron on Sunday announced 6.5 billion euros ($7.6 billion) in extra military spending in the next two years because of new and unprecedented threats, ranging from Russia to nuclear proliferation,