France is living beyond its means.
The government, better late than never, seems to realize this.
With a debt that exceeds 3,000 billion euros, the country lives with the sword of Damocles of a deterioration of its rating, especially since it is unable to maintain its trajectory of reducing the deficit, even though it is already little ambitious compared to that of its neighbors.
To replenish the coffers, the government has long bet on growth and a reduction in unemployment;
but it is clear that this strategy is running out of steam while growth is slipping (0.9% expected in 2024, instead of 1.4% forecast) and unemployment is rising (7.5% at the end of 2023 compared to 7.1 % one year earlier).
Faced with this observation, the time has now come to seek savings in all directions.
Especially since the government has committed not to increase taxes, and even to reduce them by 2 billion euros for the middle classes, from 2025. The equation promises to be complex to resolve.
Also readBruno Le Maire, last guardian of finances in the ranks of the government?
Bruno Le Maire went up…
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