EXCLUSIVE MAINTENANCE – The Banque de France revises downward its forecast for GDP growth in 2025, to 0.9% compared to 1.2% in September. Its governor warns of the urgent need to restore public finances, otherwise the country risks “gradual collapse”.
France's GDP will only grow by 0.9% in 2025 according to forecasts from the Banque de France published this Monday, down 0.3% compared to September estimates. In an exclusive interview with Figaro the governor of the Banque de France warns of the need to reduce the public deficit and revive growth in Europe. In the short term, François Villeroy de Galhau estimates “targeted tax increases» undoubtedly necessary.
LE FIGARO. – As soon as the new Prime Minister François Bayrou was appointed, the Moody's agency downgraded France. What lesson do you learn from this?
François VILLEROY de GALHAU. – The timing appears to be an unfortunate coincidence on Moody's part: it is of course the instability caused by the censorship of December 4 that is to blame, not the appointment of the Prime Minister. Basically, it is technically an alignment with the rating of other agencies, but it is also a reminder that our country must obviously reduce…
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