PARIS - French President Emmanuel Macron announced on Sunday an additional 6.5 billion euros ($7.6 billion) in military spending to be allocated over the next two years, aiming for annual defense expenditure to reach 64 billion euros by 2027.

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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.