The French authorities expressed concern about the high level of public spending and presented a project to cut the budget at 43.8 billion euros.
Within the framework of a deep Fiscal adjustmentwhich aims to cut the state budget in 43.8 billion of euros, the prime minister of France, François Bayrouproposed an extreme measure: Delete holidays with the aim of helping to “clean up public finances.”
The individual, the president seeks to eliminate two holidays: on Monday of Passover and the May 8that commemorates the end of World War II.
The plan promoted by the French government implies pension freezing, the reduction of public employment or the cut of social and health spending to adjust public spending amid opposition pressures that threatens to throw down its minority government. He also proposed not updating the budget not related to defense next year and Do not replace a third of the officials when they retire.
“Every second, France’s debt increases by 5,000 euros,” Bayrou warned and regretted that the country has “Back addicted to public spending.” “Everyone will have to contribute to effort,” he said.
The adjustment plan was entrusted to Prime Minister by the President Emmanuel Macron. His decision to call early elections last year resulted in a divided Parliament and without the possibility of reaching agreements in a framework of increasing expenses and an unexpected fiscal deficit.
Bayrou himself explained that this adjustment is inevitable and warned: “It is the last stop before the precipicebefore the debt crushes us. ”
The goal is Reduce the public deficit to 4.6% of GDP In 2026, in front of the 5.8% registered in 2024. This adjustment is raised in an international context marked by commercial conflictssuch as the increase in import tariffs in the United States announced by Donald Trump this weekend.
Javier Milei celebrated the adjustment plan in France
While France He prepares for a strong adjustment plan to balance his public accounts, the president Javier Milei He celebrated these measures in his social networks and stressed:
Source: Ambito
