The Parisian executive highlighted on Wednesday the “best possible rating for a community” awarded by the Moody’s rating agency, which rewards the “very solid governance and management” of the capital, whose debt is regularly taken for granted. targeted by the opposition.
Moody’s, which rated Paris for the first time, gave it an Aa2 rating on Friday with a stable outlook, based in particular on the importance and wealth of its economy, which represents around 10% of French GDP, which provides it with a very solid tax base.
The debt, which amounts to eight billion euros, is described as growing but sustainable, with 9.2 billion expected in 2026. Budgetary practices are considered prudent and the tax rate very lower than average.
The city’s first deputy Emmanuel Grégoire (PS) took advantage of this rating to condemn the comments regularly made by the opposition which, according to him, resemble fake news, such as the idea that the city, bankrupt, should be put under surveillance. guardianship.
The Parisian debt is used to finance our investments in the service of ecological transformation and housing, he recalled.
If we had not invested massively in housing, there would still be entire neighborhoods in the 18th that were totally unsanitary, said Eric Lejoindre, mayor of this district.
This note confirms what Fitch was able to say in December (…) or Standard & Poor’s in October, welcomed Paul Simondon, finance assistant, explaining that the accounts present an operating surplus of around €760 million. euros in 2023, while the government itself is in dire straits after announcing a spiraling public deficit.
In November 2022 Gabriel Attal, then Minister of Public Accounts, had likened the derogatory but legal system of capitalized rents in the city to a fraudulent Ponzi system. PS mayor Anne Hidalgo had filed a complaint for defamation.
The fact that the city is well managed should not even be a subject, emphasized Mr. Simondon.
Questioned by AFP, LR advisor Aurlien Vron considered the growth in debt worrying, with borrowings close to a billion euros in 2024, 2025 and also in 2026, which according to him promises Parisians very strong increases in debt. taxation lack of budgetary rigor in the years to come.