France's Finance Minister warns public deficit may rise to 5.6% of GDP, exceeding target, due to tax revenue shortfalls, intensifying pressure on President Macron.

France's Finance Minister has warned that the public deficit could rise to 5.6% of GDP this year, exceeding the 5.1% target, and potentially reach 6.2% in 2025 due to tax revenue shortfalls. This situation intensifies pressure on President Macron, who is trying to form a new government after inconclusive elections. France's current deficit stands at 5.5%, with public debt at 110%, while EU rules require deficits below 3%. A draft budget must be presented by October 1.

September 02, 2024
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