France Implements $11 Billion in Budget Cuts Amid Economic Slowdown

The French government aims to reduce its deficit by slashing spending on education, justice, defense, and environmental programs.

The French government announced a $11 billion budget cut to tackle its deficit, with significant reductions in environmental and energy transition programs.
Economic Minister Bruno Le Maire revised the country's growth forecast to 1%, citing international tensions and economic slowdowns in key trading partners.
The cuts are part of a broader effort to avoid breaching European Union budget rules and to prevent a downgrade of French debt by international rating agencies.
Environmentalists express concern as the budget for the MaPrimeRénov' renovation aid scheme is slashed by $1 billion, impacting France's green transition efforts.
The government's decision to implement cuts through a decree, bypassing parliamentary debate, has sparked criticism regarding democratic processes.