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France Confronts Monday Budget Deadline After Lecornu’s Return to Matignon

A favorable assessment from the fiscal watchdog could bolster the government’s 2025 deficit target.

Overview

  • The government must present the 2026 budget bills for the State and Social Security by Monday in cabinet and to the National Assembly under the finance law calendar.
  • Article 47 requires a 70‑day parliamentary review—40 days for the Assembly, 20 for the Senate, 10 for final exchanges—and the first‑Tuesday deadline has already been missed, compressing the timetable.
  • The Haut Conseil des finances publiques will issue its mandatory opinion Monday before any cabinet presentation, with Le Figaro reporting it views the 5.4%‑of‑GDP 2025 deficit goal as credible.
  • If the constitutional schedule cannot be met, the executive could resort to ordinances or seek a special law to authorize tax collection in 2026, a politically sensitive fallback.
  • Sébastien Lecornu was reappointed prime minister Friday as LR signaled broad support, LFI and the RN pledged immediate censure, and the PS set conditions for any backing.