The endless debates on the repayment of the Covid debt almost make you forget that France suffers above all from the public deficits accumulated for more than 45 years.
While it must exceed 120% of GDP at the end of the year, the debt was already close to 100% in 2019, for lack of sufficient reforms carried out during good times to reduce the wing.
And today, France will not be able to turn a blind eye to the downward trend in its public accounts for a long time.
To read also:
Debt: "What matters, for public finances, is the weight represented by the interest charge"
Even if the health crisis is not over, the reflection is launched.
The commission on the future of public finances (chaired by the former Minister of Finance, Jean Arthuis) has just published its report on guidelines for expenditure control and budget governance.
The Court of Auditors is due to present its own audit at the end of April.
Enough to allow the executive to prepare minds for the end of "whatever the cost" but also to save precious time 13 months before the presidential election ...
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