The Government of France presented its new budget project for 2025 this Thursdaywhose central measures are a reduction in spending of 60,000 million euros and tax increases to reduce the deficit and place it at 5%.
Antoine ArmandMinister of Economy and Finance, was in charge of making public the measures promoted by the Prime Minister Michel Barnierand assured that these budgets should be understood as an «effort» to reverse the financial situation of the French country and thus improve its future prospects. «A effort as urgent as necessary to return to a sustainable budget path, which preserves our financing conditions and, ultimately, allows us to stabilize and then reduce our debt,» he noted. In addition, he highlighted that the project is an attempt to «change the way public spending is used«, although for the moment it still must comply with the parliamentary procedures to become effective. Specifically, The accounts will be debated in parliament separatelysince the income chapter, in which the tax increases are framed, will be the first to be discussed by legislators within two weeks. The National Assembly will evaluate the part dedicated to expenses on November 5, and the final vote is scheduled to take place on the 19th of the same month. The text presented this Thursday specifies that, without the measures proposed in it, «The public deficit would have reached 7% of GDP in 2025«. «It is a path of responsibility, I say it very clearly, It is a path that excludes any fiscal plunder and any austerity cure. There is no ambiguity about this, we will not redirect the accounts by slowing down growth. I heard a lot of red lines. I only have one. The only thing that needs to be done is to straighten out the accounts. It will be my only goal. «I did not accept being Minister of Budget and Public Accounts to defend or endorse unsustainable trajectories,» Armand concluded.