EU to need 100 billion euros to increase its defense capabilities

The European Union must increase the capacity of its defense industry, which will require about 100 billion euros, European Commissioner for Internal Market Thierry Breton said on the Public Senat TV, Report informs via TASS.

“We must increase the potential of our defense industry <...> with the prospect of allocating 100 billion euros. If the EU member states agree, we will find funds for this,” he said.

Breton did not explain exactly what measures the EU should take for this.

In September 2023, Members of the European Parliament (MP) supported the European Commission's proposal to create an instrument to strengthen the EU's defense industrial base through common procurement.

With the help of the new instrument, it is expected to increase the total spending on military products within the framework of joint defense procurement of the Union to 35%. In 2021, this figure was only 18%.