France’s high national debt threatens to curb its defence ambitions, raising the risk that one of Europe’s strongest militaries will not be able to keep up with an expected wave of spending.
President Emmanuel Macron has called for the annual military budget to rise to between 3 and 3.5 per cent of national output from about 2 per cent now, implying a doubling of yearly spending from last year’s levels to €100bn in 2030.
Such an effort would bring France in line with new targets for direct military spending that Nato is expected to set at a June summit as the alliance responds to US pressure for Europe to do more on security.
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