France to up defense spending by 1.7 bln euros a year until 2022

By REUTERS
February 8, 2018 11:45
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PARIS - France's defense budget will increase by 1.7 billion euros a year between 2019 and 2022, the armed forces ministry said on Thursday, confirming spending commitments outlined by President Emmanuel Macron last year.

From 2023, the annual increase is set to rise 3 billion euros a year so that France can hit its NATO-agreed target of spending 2.0 percent of gross domestic product on defense by 2025.

Currently, France spends around 1.7 percent of GDP on defense.

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