France Renegotiates Contracts To Balance Spending
By Amy Svitak, Tony Osborne
Source: Aviation Week & Space Technology
February 24, 2014
Credit: Airbus Military
With mostly flat spending planned under a new six-year defense budget, France is renegotiating a number of large weapons contracts to reflect reduced spending power in the coming years, even as it funds a slate of new and ongoing development programs while sustaining research and development.
French defense procurement agency DGA spent €10.8 billion ($14.8 billion) on military equipment and weapons last year, compared with almost €11 billion in 2012. At the end of 2013, it had less than half a euro remaining in its coffers, according to DGA chief Laurent Collet-Billon.