France's New Government Takes Aim at Budget Deficit
In a bold move to tackle its budgetary woes, France's freshly appointed Prime Minister Francois Bayrou has pledged to trim the national deficit to approximately 5% of GDP by 2025. This comes after the previous government's collapse over similar fiscal tightening efforts. With the current deficit sitting at 6.1%, Bayrou faces a daunting task amid a fragmented National Assembly. His plan, set for unveiling on January 14th, seeks to align with EU's fiscal norms, which France has exceeded substantially. Analysts are divided on the plan's viability, citing political and economic risks.
Dec 26