France’s finance minister says the 2027 budget will restore fiscal discipline while defending the country’s creditworthiness and commitment to sound finances.
France’s 2027 budget is aimed at putting the country’s public finances back on a path of consolidation, as the government seeks to reassure investors about its financial stability.
Finance Minister Roland Lescure made the remarks on Thursday while presenting the government’s budget bill, stressing France’s commitment to strengthening its public finances and restoring fiscal discipline.
Lescure dismissed concerns that France could face worsening financial conditions, insisting that the country’s reputation as a reliable borrower remains intact.
“Here and there, I hear the prophets of doom promising us worse times ahead. I would like to reiterate here that France’s signature is solid,” Lescure told journalists.
The finance minister acknowledged that reducing France’s budget deficit from a projected 5% of economic output in 2027 to the European Union’s 3% limit by 2029 would be a difficult task.
However, he maintained that the target remained achievable, despite economists widely questioning whether the deadline can be met.
Lescure said bringing the deficit back within the EU threshold would require difficult measures, but stressed that France still had an opportunity to place its public finances on a more sustainable footing.