France's budget deficit increases to 5.5% GDP in 2023, posing challenges for Macron's fiscal and economic reforms.
France's budget deficit has expanded to 5.5% of GDP in 2023, up from the planned 4.9%, as growth in tax revenues slowed and spending increased. This raises concerns about President Emmanuel Macron's ability to resolve the country's fiscal challenges and implement growth-enhancing economic reforms. To meet the EU's 3% deficit limit in 2027, Macron's government will need to make further efforts.
March 26, 2024
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