France's Macron announces plan to accelerate military spending

Now, let's take a look at some stories from around the world with our Choi Chi Hee.

Good morning, Chi Hee.

Good morning, Eunji.

Let's start with France announcing an accelerated military spending plan.

The French President has unveiled a plan to speed up France's spending on its armed forces by 2027.

French President Emmanuel Macron announced on Sunday, an accelerated military spending plan, aiming to double France's armed forces budget by 2027 which is three years ahead of schedule as Europe faces mounting security threats.

On July 13, Macron announced an additional 7.6 billion U.S. dollars in defense funding over 2026 and 2027, pushing France's military budget to 74.8 billion dollars in 2027, which would be double the 37.64 billion dollars in annual spending when Macron took office in 2017.

Making an address to the armed forces on the eve of the Bastille Day national holiday, Macron described the move as essential in response to "unprecedented threats" including Russia's aggression, nuclear proliferation, terrorism, and global instability.

He said, "To be free in this world, we must be feared. To be feared, we must be powerful."

He also said details on the 2026 budget plans will be announced on Tuesday by the Prime Minister.