Both France and the UK plan to increase their defense budgets in coming years
This week, both France and the United Kingdom announced significant increases to their respective national defense budgets. France, on the other hand, has provided specific details regarding how it intends to spend the additional euros, in contrast to the United Kingdom, which has chosen to remain evasive regarding how the additional money will be spent.
According to the new budget proposal, France's defense budget in 2023 would be 439 billion euros, which is equivalent to $42.2 billion. This represents an increase of 3 billion euros, or $2.89 billion, or 7.4 percent over the figure for 2022. This maintains the upward trend in defense spending that began in 2017, pushing the defense budget up by 36 percent from €32.3 billion ($31.1 billion) in 2017, and ensuring that it satisfies the NATO requirement that 2 percent of GDP be spent on defense.
The proposed budget, which was made public on September 27, requires the deliberation and approval of both the National Assembly and the Senate within a period of seventy days. However, given that it precisely follows the five-year trajectory that was established in the 2019-2025 military program law that was passed by the parliamentarians on July 13, 2018, it is highly unlikely that it will be rejected.
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According to the new budget proposal, France's defense budget in 2023 would be 439 billion euros, which is equivalent to $42.2 billion.
