The Minister of Economy and Finance, Bruno Le Maire, at the Elysée, June 8, 2024 (AFP/Archives/Ludovic MARIN)
The Minister of the Economy, Bruno Le Maire, said on Wednesday that he was determined, in the event of victory of the presidential majority in the early legislative elections, to continue the recovery of France’s public finances, singled out by the European Commission for its heavy deficit audience.
In 2023, the public deficit had slipped to 5.5% of GDP, more than expected by the government. The latter had revised upwards its forecast for 2024, to 5.1% of GDP.
“We spent to protect against Covid and inflation, now (…) it is a moment when we must restore public finances. I have started to do it and I intend to continue in this direction”, declared Bruno Le Maire on LCI.
The European Commission opened the way on Wednesday to procedures for excessive public deficits against seven EU countries, including France where spending promises are multiplying ten days before the legislative elections.
The public accounts of France (AFP/Archives/Bertille LAGORCE, Sabrina BLANCHARD)
To restore the public accounts, the executive planned a budgetary effort of an additional 20 billion in 2024, then another 20 billion in 2025, excluding any tax increase.
A red line reiterated by Bruno Le Maire reiterated the ambition of the current government to bring the public deficit below the threshold of 3% of GDP in 2027, within European standards.
“In the 2025 budget, if we are still responsible, we will have to make the necessary savings to return below the 3% deficit in 2027 and get out of this procedure” of excessive deficit, insisted Mr. Le Maire, who is not running. not in the legislative elections of June 30 and July 7.
“Where the opposition programs are completely at odds is that at a time when public finances must be restored, both the extreme right and the extreme left are proposing to increase public spending,” he said. deplored.
The Minister Delegate in charge of Public Accounts, Thomas Cazenave, also castigated, on franceinfo, the proposals of the National Rally (RN) and the New Popular Front (NFP).
“I have the impression that both on the extreme right and on the extreme left, we have completely forgotten public finances and that we are making promises after promises in a demagogic contest,” lamented the minister, who is for his part a candidate for re-election to the National Assembly.
© 2024 AFP
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