France seeks to save $34.8 billion to curb the deficit

French Finance Minister Roland Lescure said the government would aim to save approximately $34.8 billion (€30 billion) in next year’s budget in an effort to curb the deficit. Lescure added that most of the budget cuts would come from government spending, so as not to harm consumers’ purchasing power or raise taxes. Bloomberg reported that although final details are still being worked out, the budget will be “tough and ambitious.” The French finance minister noted that pensioners would also need to contribute to a collective effort to try to bring the budget deficit ratio below 5.1%. French Prime Minister Sebastien Lecornu is expected to unveil the 2027 budget at the end of this month, a politically risky move for President Emmanuel Macron’s government, which lacks a parliamentary majority and faces a contentious election campaign ahead of the polls.