IMF Warns of Potential French Budget Crisis by 2029

The IMF highlights the urgent need for fiscal reforms as France's public debt could soar to 124% of GDP in five years.

The IMF projects France's public deficit could exceed 6% of GDP in 2024, far above initial forecasts.
Without corrective measures, France's debt is expected to climb from 112.3% of GDP in 2024 to 124.1% by 2029.
France's government has proposed €60 billion in budget cuts and tax increases to address the fiscal imbalance.
Experts, including Fitch, express skepticism about France's optimistic deficit reduction targets for the coming years.
The IMF emphasizes the importance of structural reforms and prioritizing spending to restore fiscal sustainability.