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Debt: "What matters, for public finances, is the weight represented by the interest charge"

2021-03-26T16:28:35.000Z


INTERVIEW - Daniel Cohen, director of the economics department of the École normale supérieure, discusses the conclusions of the Athuis report for Le Figaro.


LE FIGARO.

- What do you think of the conclusion of the Arthuis report on the need to control expenditure?

Daniel COHEN.

- With all due respect to the authors, I found that this report missed the point.

To put it simply, he recommends lowering public spending as a percentage of GDP.

But it has been thirty years since all governments have said more or less the same thing.

I am not sure that general reasoning on this subject adds anything to the debate.

What would be interesting would be to go into the details: where should you spend less?

in health?

education?

The report cites the case of pensions.

Very good, but we all could see last year that the subject was not simple ...

Read also:

The crisis has derailed the trajectory of the public debt

The question of the evolution of public spending is a deeply political subject, which will undoubtedly be the subject of the next presidential campaign.

The only thing economists can say is that the rise in recurrent spending

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Source: lefigaro

All news articles on 2021-03-26

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