This Monday, January 6, the Minister of the Economy, Eric Lombard, revealed that the Livret A rate would soon fall and announced in particular a budgetary effort of 50 billion euros.
Get off on the right foot. This is what seemed to be the mantra of Eric Lombard, Minister of the Economy, this Monday, January 6, during his speech at France Inter. The Bercy tenant spoke in the context of preparing the 2025 budget. He hopes in particular to reach “at least a non-censorship agreement” with all political forces.
Reduction in the Livret A rate
The Livret A rate should fall “around 2.5%” from February 1. A figure that is still uncertain, since Eric Lombard specifies that he is waiting for the proposal from the governor of the Bank of France. “The governor of the Bank of France François Villeroy de Galhau will make a proposal to the Minister of Finance, most certainly a reduction”, and it is “around 2.5% (…) that the decision will be taken”. The exact rate proposed by the governor will be known in mid-January, once the final inflation figures for December are known. “The Livret A rate will fall, but inflation has fallen sharply since it is around 1%,” he adds.
However, Eric Lombard wishes to reassure and maintains that even if the Livret A will certainly be less profitable, “savings are not only protected, but they allow real assets to increase”.
Budget 2025
Another subject discussed, the 2025 budget. While consultations began this Monday with the political forces to prepare this budget, Eric Lombard estimated that the dialogue promised to be more “fruitful” with the left-wing parties, than with the Rally national. The minister also added that he would “not necessarily” align with Marine Le Pen's red lines because “the red line approach is an approach that traps everyone (…), there is no no solution with the red lines”, but “I am open, we will see what the dialogue gives”.
Eric Lombard, alongside the Minister of Public Accounts, Amélie de Montchalin, receives the political forces until January 14, the day of the general political declaration by the Prime Minister, François Bayrou.
a budgetary effort of 50 billion euros
Last major point, the budgetary effort. Eric Lombard indicated that for 2025, the government was targeting a public deficit of between 5% and 5.5% of gross domestic product, after a level located “around 6.1%” expected for 2024, according to the minister. A figure which requires a budgetary effort of 50 billion euros, less than the 60 billion announced by the Barnier government. “It will basically be savings. There will be no new tax increases compared to those that have already been announced,” he adds.
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