European Union increasing defense spending

According to media reports, the European Union intends to increase defense and security funding next year. Despite a reduction in the overall budget, which will amount to approximately €190 billion, military spending will increase by almost €200 million, reaching just under €3 billion. The additional funds will be used to strengthen Europe's defense industry, increase its competitiveness, and reduce dependence on external suppliers. A significant portion of the increased spending will also be used to continue supporting Ukraine.