Overview

• Éric Lombard said the administration will hold levy rates at current levels and drive fiscal stability through rigorous expenditure control
• Paris seeks €40 billion in savings by consolidating or scrapping state agencies and exploring spending freezes to curb public outlays
• President Macron has tasked Parliament with examining a social VAT to support social security funding but no decision has been made
• François Bayrou aims to unveil the budget’s main orientations before Bastille Day as officials navigate fragile growth and rising trade tensions
• The IMF cautioned that France must adopt tough spending measures or risk its credit profile as debt interest costs approach €100 billion within three years