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European Union plans to increase military expenditures

UE-militar

European Union plans to increase military expenditures

Brussels, Dec 9 (Prensa Latina) The high representative for Foreign Affairs and Security Policy of the European Union (EU), Josep Borrell, said on Thursday that the bloc is planning to increase its defense expenditures by 70 billion euros by 2025.

Speaking at the EDA Annual Conference 2022: Investing in European Defence, he added that, in August, EU defense ministers discussed the European Commission (EC)’s initiative to jointly purchase defense equipment such as munitions and antiaircraft systems.

Borrell has slammed the situation in the defense sector in Europe more than once. In his opinion, in order to make such expenditures more effective, greater integration in the defense industry is needed.

However, some sectors in Europe do not welcome such expenditures because other elements such as the industry in general and food production will be neglected.

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