While the debate on potential tax increases is stirring up the political sphere, and the development of the 2025 budget is relatively chaotic, Michel Barnier, the new Prime Minister, indicated on Wednesday, September 18, 2024 that France’s budgetary situation was, in his opinion, “very serious”.
A situation of which Michel Barnier wants to know the “exact reality”
In a statement sent to theAgence France-Pressehe also clarified that he had “requested all the elements to assess its exact reality.”
The public deficit for 2024, which the previous government estimated it could reduce to 5.1% of GDP, will ultimately be greater, warned Pierre Moscovici, the first president of the Court of Auditors.
At the end of the first quarter of 2024, public debt reached 110.7% of GDP. A lower level than that observed at the heart of the Covid-19 pandemic (117.7% of GDP in 1er quarter 2021) but much higher than that before the crisis (98.1% of GDP in the 4th quarter of 2019).
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