France Enacts Emergency Law to Address 2025 Budget Void
President Macron signed the temporary measure from Mayotte, allowing essential government functions to continue while a formal budget remains unresolved.
- The French Parliament passed a 'special law' in December to authorize tax collection and borrowing in the absence of a 2025 budget.
- President Emmanuel Macron officially promulgated the law from Mayotte, where he assessed damage caused by Cyclone Chido.
- The new measure ensures the government can perform essential functions in early 2025 but requires a formal budget to be adopted soon.
- New Prime Minister François Bayrou, appointed on December 13, aims to finalize a 2025 budget by mid-February but acknowledged challenges in meeting this timeline.
- Bayrou plans to present his government by the weekend or before Christmas, working from a prior budget draft rejected under former Prime Minister Michel Barnier.