AGL 6.80 Increased By ▲ 0.08 (1.19%)
ANL 9.22 Decreased By ▼ -0.53 (-5.44%)
AVN 74.20 Decreased By ▼ -1.30 (-1.72%)
BOP 5.43 Decreased By ▼ -0.01 (-0.18%)
CNERGY 4.89 Decreased By ▼ -0.06 (-1.21%)
EFERT 78.00 Decreased By ▼ -0.05 (-0.06%)
EPCL 54.70 Decreased By ▼ -0.70 (-1.26%)
FCCL 14.93 Decreased By ▼ -0.37 (-2.42%)
FFL 6.34 Decreased By ▼ -0.14 (-2.16%)
FLYNG 7.12 Decreased By ▼ -0.03 (-0.42%)
GGGL 10.56 Increased By ▲ 0.01 (0.09%)
GGL 16.43 Decreased By ▼ -0.12 (-0.73%)
GTECH 8.21 Decreased By ▼ -0.21 (-2.49%)
HUMNL 6.35 Decreased By ▼ -0.06 (-0.94%)
KEL 2.95 Decreased By ▼ -0.04 (-1.34%)
LOTCHEM 28.60 Decreased By ▼ -0.25 (-0.87%)
MLCF 27.80 Decreased By ▼ -0.50 (-1.77%)
OGDC 75.30 Decreased By ▼ -0.20 (-0.26%)
PAEL 15.80 Increased By ▲ 0.26 (1.67%)
PIBTL 5.60 Increased By ▲ 0.24 (4.48%)
PRL 17.22 Decreased By ▼ -0.10 (-0.58%)
SILK 1.06 Increased By ▲ 0.01 (0.95%)
TELE 10.30 Decreased By ▼ -0.20 (-1.9%)
TPL 8.00 No Change ▼ 0.00 (0%)
TPLP 20.80 No Change ▼ 0.00 (0%)
TREET 22.60 Decreased By ▼ -0.40 (-1.74%)
TRG 128.85 Increased By ▲ 6.15 (5.01%)
UNITY 22.50 Decreased By ▼ -0.08 (-0.35%)
WAVES 12.00 Increased By ▲ 0.70 (6.19%)
WTL 1.13 Decreased By ▼ -0.01 (-0.88%)
BR100 4,100 Decreased By -4 (-0.1%)
BR30 15,533 Increased By 64.6 (0.42%)
KSE100 41,129 Increased By 114.8 (0.28%)
KSE30 15,337 Increased By 24.6 (0.16%)
Follow us

VILLEPINTE: French President Emmanuel Macron on Monday called for a boost to defence budgets following Russia’s invasion of Ukraine, saying France was now on a “war economy” footing.

Speaking at Eurosatory, a weapons industry fair, Macron said Europe needed “a much larger defence industry” to avoid relying on suppliers elsewhere for its equipment needs.

Since Russia’s invasion of Ukraine in February, France “has entered into a war economy in which I believe we will find ourselves for a long time”.

Macron said he had asked the defence ministry and armed forces chiefs of staff to adjust a six-year framework defence spending plan running to 2025 to the new geopolitical situation, to “match the means to the threats”.

Even before Ukraine, French military spending had gradually increased since Macron came to power in 2017 to reach 41 billion euros ($43 billion) this year, and is currently scheduled to hit 50 billion euros in 2025.

Ukrainian, Russian forces fight for ‘every metre’ in Severodonetsk

“We didn’t wait for strategic changes to re-invest,” Macron said, but Russia’s war had created “an additional need to move faster and become stronger at a lower cost”.

Macron said that “anybody doubting the urgency of these efforts only needs to look to Ukraine, where soldiers are asking for quality weaponry and they are entitled to a response from us”.

According to Le Monde newspaper, the government’s armament agency DGA is considering a draft law that would allow the requisitioning of civilian equipment or civilian factories to make weapons.

As European governments bolster defence budgets, they need a larger EU-based defence industry to meet the new military needs, Macron said.

“Let’s not repeat the errors of the past going forward,” he said. “Spending large sums on purchases from elsewhere is not a good idea.”

Europe needs a defence industry that is “much stronger and much more ambitious” than now, he said, “or we will create our own future dependencies”.

A European fighter plan project is, according to experts, currently running about a decade late, while a new French-German battle tank project, MGCS, is not expected to be operational for nearly another two decades.

Comments

Comments are closed.