The Court of Auditors issues a harsh opinion on the government's new budgetary trajectory. Its president points out the inadequacies and inconsistencies.
Pierre Moscovici: Our public finances are among the most degraded in the eurozone. France's public debt, far from decreasing, is expected to increase to 112 points of GDP in 2027, or 4 points more than initially planned. French public spending represents 57% of GDP, eight points above the planned level. The French deficit stands at 5.5% in 2023 instead of the planned 4.9%; it will be 5.1% instead of 4.4% in 2024. The High Council of Public Finances issues its opinion this Wednesday on the new budgetary commitments between now and 2027. The institution warns of the lack of coherence of this new trajectory. The executive's promises lack credibility, particularly on reducing spending, the president says. He adds that the situation of public finances is "worrying" and "very, very serious."