France Outlines Ambitious Budget Cuts to Curb Deficit

The French government aims for 60 billion euros in savings by 2025 to align with EU fiscal rules and reduce public debt.

Finance Minister Antoine Armand is tasked with convincing EU partners of France's fiscal responsibility after a significant budget shortfall in 2024.
Key measures include delaying pension indexation, merging public services, and reducing the number of civil servants to achieve a 5% deficit target by 2025.
The government plans to generate 40 billion euros through spending cuts and 20 billion euros from tax increases, affecting wealthy households and large corporations.
Former ministers Gabriel Attal and Gérald Darmanin propose increasing work hours and revisiting past reforms to further reduce the deficit.
France's public debt is projected to reach 115% of GDP next year, nearly double the EU's recommended limit, prompting urgent fiscal reforms.