The promise made by the Minister of the Economy, Bruno Le Maire, of a return to 3% deficit at the end of the five-year term is more wishful thinking than a credible perspective. Since coming to power, Emmanuel Macron has borrowed more than 800 billion euros to maintain the lifestyle of the public sphere.
The situation is all the more worrying as the government seems totally overwhelmed by the situation. “This is a slip-up in execution which is significant, not entirely unprecedented but very, very rare,” notes the President of the Court of Auditors bluntly.