2023-04-20 11:44:10
Objective: deleveraging. This is the leitmotif of the stability program presented by Bruno Le Maire, which will be sent for examination to the European Commission. France is currently in a difficult economic situation, with public debt reaching 111.6% of GDP at the end of 2022 and a public deficit of 4.7% the same year. Inflation, meanwhile, reached 5.2% in 2022. A context that is pushing the government to tighten the purse strings. The aim is to bring the public deficit below the 3% of GDP mark, in accordance with EU budgetary rules. The deficit should thus reach 2.7% in 2027, once morest a forecast of 2.9% previously.
An ambitious debt reduction and deficit reduction program
As for public debt, it should represent 108.3% of GDP in 2027, a reduction of 4 points compared to previous estimates. To achieve these objectives, the government intends to put an end to exceptional aid and other costly measures in order to control public spending. It will have to progress more slowly than inflation. ” It is right that public actors (…) also be involved “Said Bruno Le Maire, referring to the pension reform passed by forceps by the executive and which will require efforts from the French.
Control of public spending and revival of growth
In addition, an expenditure review is underway to identify potential savings and release billions of euros. The Prime Minister, Elisabeth Borne, asked the ministries “ to identify 5% leeway on their budget to finance the ecological transition “, according to the tenant of Bercy. The government is also counting on more dynamic growth, with a rate of 1.8% in 2027 and an unemployment rate reduced to 5%. The overall strategy of this program is to preserve France’s financial credibility within the European Union and to strengthen budgetary discipline.
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