follow Bruno Le Maire's hearing before the Senate Finance Committee
06/11 at 4:32 p.m.
Faced with the spiraling public deficit, the government's finance bill targets “60 billion” euros in budgetary effort, in spending reductions and new taxes. Its objective is to start reducing the deficit, to 5% of GDP in 2025 then to 2.8% in 2029, below the maximum threshold of 3% authorized by the EU.
According to the Minister of the Economy Antoine Armand, the second economy in the euro zone would be the last country to fall within the European budgetary framework, while it is also the third most indebted country behind Greece and Italy ( almost 115% of GDP expected in 2025).
