FRANCE’S prime minister promised Thursday that the government will reduce the country’s deficit next year by cutting public spending by 54 billion euros ($62 billion) in 2027. B u t S e b a s t i e n Lecornu insisted his plans did not amount to austerity, as high fuel prices cause renewed social tensions just months before the presidential election.
In an interview with the Le Figaro business newspaper, he said that the cuts will bring the public deficit down to 4.8 per cent of gross domestic product excluding defence spending, and five per cent including military spending.
The French government initially aimed to cut the deficit from 5.1 per cent of GDP last year — one of the highest in the eurozone and above the three-per cent limit set for EU members. But the government acknowledged on Thursday that it will likely rise to 5.4 per cent.
AFP
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