| Abstrakt: |
France's President Emmanuel Macron is facing criticism for his handling of the country's finances. Macron's spending on pandemic relief, military buildup, energy subsidies, and tax cuts has led to a widening budget deficit. In response, Macron's newly appointed prime minister, Michel Barnier, has unveiled a budget aimed at reducing the deficit to 5% of economic output by 2025 and 3% by 2029. The budget includes temporary tax increases for companies and high-income households, as well as cuts to public spending. However, the budget must still be approved by France's National Assembly, which is deeply divided. The country's fiscal challenges have raised concerns among investors and led to a downgrade by Standard & Poor's. Macron's party also suffered losses in recent elections, further complicating the political landscape. The budget's passage is crucial for France's economic stability, as investors have been demanding higher compensation for holding French government debt. The country's debt currently stands at over €3.2 trillion. [Extracted from the article] |
