2024-03-21 12:35:29
AA/Nice/Feïza Ben Mohamed
French President Emmanuel Macron received several of his ministers and majority executives at the Elysée on Wednesday evening in order to find solutions to reduce the public debt.
“We must face a cyclical economic shock linked in particular to geopolitics. We assume and we tell the truth to the French,” he declared in the preamble to these exchanges, quoted by the newspaper L’Express.
The Head of State, however, recalled that France is escaping recession and ruled out the idea of presenting to Parliament an amending budget for the current year.
“I don’t believe in fate. We have assets, possible levers to withstand this shock. I therefore expect you to make very concrete proposals to me,” he also told his ministers, according to information from the newspaper Le Parisien.
Among the participants in this evening of exchanges and reflection, are Prime Minister Gabriel Attal, the Minister of Economy and Finance, Bruno Le Maire, the Minister of the Interior, Gérald Darmanin, and the Minister Delegate for Budget, Thomas Cazenave.
This meeting, which looked like a crisis meeting, took place while the Court of Auditors issued an alarming report on March 12 and reported a “worrying” situation.
Heard at the beginning of the week in the Senate, the president of the Court of Auditors, Pierre Moscovici, warned of a “worrying” situation, and unrealistic forecasts concerning the expected growth in 2024.
“Today, we probably have some of the most degraded public finances in the euro zone. In particular, our deficits which were equal to or greater than 5% in 2023 are at issue,” he underlined.
Bercy has already announced a reduction in the growth forecast from 1.4 to 1%, and a savings plan of at least “10 billion euros” to which “all ministries will contribute” but must now find other avenues while the Court of Auditors estimates that it is necessary to plan “of the order of 50 billion in savings between 2025 and 2027” to hope to achieve the objective of reducing the public deficit to 3% set for the end of the mandate of ‘Emmanuel Macron at the Elysée.
Note that INSEE must unveil its report on Tuesday concerning the state of public finances for the year 2023.
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