President Emmanuel Macron (d) and Minister of the Economy Bruno Le Maire traveling to Bergerac, April 11, 2024 in Dordogne (POOL/AFP/Ludovic MARIN)
President Emmanuel Macron on Thursday ruled out “the hypothesis” of an increase in taxes, despite the deterioration of public accounts, and defended his economic strategy which “produces results”.
During a trip to Bergerac (Dordogne), he also brushed aside any “disagreement” with his Minister of the Economy, Bruno Le Maire, who accompanied him, while disapproving the idea of an amended budget for 2024 mentioned by the latter.
“We must respond to the economic shock” experienced at the end of 2023, “more brutal, faster than expected”, launched the Head of State, attributing it to the “German recession” as well as the “Italian slowdown and of the European economies that surround us.
In this context, “the line is simple and has been reaffirmed: we stay the course (full employment, reindustrialization, rearmament of our public services) and we immediately close the hypothesis of saying that we are going to resolve this economic shock by no more taxes, French disease,” he insisted.
“It would take away confidence. We keep the confidence of households, businesses, our partners,” insisted Emmanuel Macron in the run-up to the European elections and a possible downgrade of France’s rating by the agencies.
We must respond to this shock “appropriately and immediately”, with new “savings”, continued the head of state.
While traveling in Canada, the Prime Minister, Gabriel Attal, for his part assured that “the state of public finances was held”. “We spent what we had to spend and even a little less. (…) So we adapted,” he added.
– “The most attractive in Europe” –
France indicated on Wednesday that it now anticipates a public deficit of 5.1% of GDP for 2024, which will require finding another 10 billion euros this year, for a return to 2.9% of GDP in 2027.
President Emmanuel Macron (d) and Minister of the Economy Bruno Le Maire traveling to Bergerac, April 11, 2024 in Dordogne (POOL/AFP/Ludovic MARIN)
The high figure for the 2024 deficit, initially forecast at 4.4%, is the consequence of the strong slippage recorded in 2023, where it reached 5.5% of GDP instead of the 4.9% forecast, due to much higher revenues. lower than expected, indicated the Ministry of the Economy and Finance.
“There are no disagreements in the French Republic,” continued the head of state, questioned about his alleged disagreements with the tenant of Bercy.
“There has never been one because it doesn’t work like that and because that’s not the way we’ve been working for seven years with the Minister of the Economy and Finance,” he said. assured.
Emmanuel Macron also defended his economic strategy, judging that it was not “bad”, but on the contrary produced “results”.
“We are the most attractive in Europe, we have one of the best growth rates in the euro zone, we create jobs and we are getting closer to others (…) And so all that is good, we must keep it “, he insisted.
He also justified his decision not to resort to an amending budget, which could open the de facto way to a motion of censure from the opposition.
“Those who want amending finance bills, for many, it is to make additional taxes,” he said.
© 2024 AFP
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