Macron announces extra military spending over next 2 years

French President Emmanuel Macron announced on Sunday an additional 6.5 billion euros in military spending to be allocated over the next two years, aiming for annual defense expenditure to reach 64 billion euros by 2027, reported Xinhua.

In an address to the nation's armed forces, Macron outlined France's military direction and strategic vision, and he noted that military spending "is and will continue to be a source of wealth for our gross domestic product, our economy, and our regions."

The French president also revealed plans to explore the creation of a new national service initiative.