France aims for $54.6 billion savings to narrow deficit

Investing.com — The French government is targeting savings of €53 billion ($54.6 billion) to reduce the country’s deficit, as stated by Budget Minister Amelie de Montchalin. The plan includes a €32 billion cut in state expenditure and an increase of €21 billion in tax revenue.

De Montchalin, in a Wednesday interview with TF1 television, emphasized the government’s dedication to this fiscal discipline. “In this budget, we’re going to make an historic effort to reduce public spending,” she noted, adding that there would be no tax increase for the middle and working classes.

The budget minister also shared her expectation to finalize the delayed 2025 budget within the current month. The budget bill is scheduled for a Senate discussion this week and is set to return to the lower house for further deliberation next week.

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