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France's Cour des Comptes Warns of Possible 2025 Budget Non-Certification

Pierre Moscovici criticizes persistent fiscal mismanagement, urging urgent reforms to address structural flaws and overly optimistic forecasts.

Le président de la Cour des comptes, Pierre Moscovici, présent lors d’une audition devant la commission des finances de l’Assemblée nationale, à l’Assemblée nationale, chambre basse du Parlement français, à Paris, le 16 avril 2025.
Pierre Moscovici, premier président de la Cour des comptes et président du Haut Conseil des finances publiques.
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Overview

  • Pierre Moscovici, head of the Cour des comptes, has threatened to withhold certification of France's 2025 accounts if significant fiscal reforms are not implemented.
  • The 2024 budget was labeled a 'black year,' marked by uncontrolled public spending, overly optimistic economic projections, and delayed corrective measures.
  • For the 19th consecutive year, the state's accounts contain significant anomalies, failing to meet basic accounting standards required for proper certification.
  • While the 2025 budget shows slight improvement, it still relies on overly optimistic growth forecasts and fails to fully assess external risks, including geopolitical uncertainties.
  • The Cour des comptes urges the government to adopt structural financial reforms and improve fiscal accountability to restore credibility with financial markets.