France Risks Deficit Blowout Without Budget Before Elections
19 Articles
19 Articles
The General Financial Inspectorate warns: with the electoral calendar, the government in the minority and the split Parliament there is a risk of not approving the budget for nine to twelve months: "It has never happened before." Mélenchon's left sharpens the weapons, Le Pen attacks Macron's legacy: "I will clean the stables of Augia." But Paris is in a cul de sac: without budget the deficit could reach 5.5%
In a report published this Thursday, the General Inspectorate of Finance (IGF) warns about the consequences of a prolonged use of the special law in 2027. If it were to renew the previous budget, France would be exposed to "major risks", she says. The defence sector, the BTP, farmers or the beneficiaries of MaPrimeRenov would be affected. - Budget 2027: several sectors in danger if the special law were to be used again? (Economy).
While the equation seems impossible to solve in the middle of the campaign, a regime under special law until the autumn of 2027 would increase the deficit to at least 5.5%. "An extremely dangerous cocktail," argues the Minister of Public Accounts to "Libé".
The General Inspectorate of Finance warns about the consequences of an extended special law on the budget in France, which could last for almost a year due to the elections of 2027. This situation would risk...
France Risks Deficit Blowout Without Budget Before Elections
France’s fiscal deficit would widen by at least 0.5% of economic output if political divisions prevent the adoption of a 2027 budget before presidential elections, the state’s finance auditing body cautioned.
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