30 Sep '16, 4pm

France to Add €300M to 2017 Defense Equipment Budget https://t.co/KO7e1qleNg

PARIS — France will lift its 2017 defense equipment spending by €300 million (US $337 million), bringing the total for acquisition of military materiel to €17.3 billion, said Ministry of Defense spokeswoman Valérie Lecasble on Thursday. The total 2017 defense budget will rise to €32.7 billion, excluding pensions, she told journalists. That compares to the 2016 defense budget of €32 billion, with €17 billion for procurement. Of the total budget, €11.4 billion will pay salaries. An extra €300 million for procurement is half of the €600 million increase in the 2017 defense budget previously announced by President Francois Hollande. Defense Minister Jean-Yves Le Drian is due to set out the budget in detail to the lower house of the National Assembly on Oct. 4. That breakdown on the planned defense budget followed the 2017 national budget set out Sept. 28 by the Finance Ministe...

Full article: http://www.defensenews.com/articles/france-to-add-300m-to...

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