MNI China Daily Summary: Thursday, April 22

MNI BRIEF: China To Quicken Resolving Local Debt Risks

RPT-MNI INTERVIEW: ECB's Wunsch Sees At Least Two Cuts By Dec

MNI BRIEF: Brazil CenBank Faces Greater Uncertainty - Campos

MNI: PBOC Conducts CNY2 Bln Via OMO Mon; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS MON

EZ/UK Bond Supply Calendar: EU, FI Synds; IT, DE Auctions Tues

MNI: CANADA MAR INDUSTRIAL PRICES +0.8% MOM; EX-ENERGY +0.8%

NBH Data Watch

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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Macron Announces Major Increase In Military Spending

FRANCE

Speaking at the Mont-de-Marsan airbase in southern France, President Emmanuel Macron has announced a significant increase in French military spending in the years ahead. He states that the six-year military budget from 2024-2030 will total EUR400bn, up from EUR295bn in the previous six-year period running from 2019-2025.

  • The increase comes as France seeks to boost its military spending above the 2% of GDP level intended as the minimum for each NATO member. Data from the World Bank shows France's military spending in 2021 equated to 1.9% of GDP.
  • AP reports that the boost in spending is, "...meant to take into account the consequences of the war in Ukraine, and to boost defense spending in the coming years to reinforce France’s domestic security and the country’s ability to operate abroad...[Macron] wants France’s military strategy to strengthen the country’s role as an independent global power."
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