2024-04-26 21:40:00
Srelief in the corridors of Bercy. The rating agency Moody’s maintained France’s sovereign rating on Friday at the Aa2 level with a stable outlook. For its part, Fitch, which downgraded France’s sovereign rating last year, also left it unchanged on Friday evening, at level AA- with a stable outlook.
In a press release, Bruno Le Maire, declared to take “note” of the decision of the two rating agencies Moody’s and Fitch to maintain unchanged their “This decision must invite us to redouble our determination to restore our public finances and meet the set objective by the President of the Republic: to be below 3% deficit in 2027,” added the Minister of the Economy and Finance in a press release.
READ ALSO The debt burden will soon be heavier than the national education budgetThe recent slippage in public finances raised fears of the worst. At the end of March, INSEE reassessed the public deficit at 5.5% of GDP for 2023, instead of the 4.9% initially planned. In mid-February, the Minister of the Economy was forced to lower his growth forecasts to 1% for 2024 compared to the 1.4% forecast. In March, the rating agency Moody’s deemed it “unlikely” that France would manage to reduce its public deficit to 2.7% by 2027.
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