France: Bruno Le Maire announces ten billion euros in savings on state spending. The French government has significantly revised downwards its growth estimate for 2024, from 1.4% to now 1%.
As a result, and due to lower tax revenues than expected, the State “ will make an immediate effort of ten billion euro in savings ” in order to respect its budgetary objectives. Five billion euros will have to be saved from the operating budget of all ministries. All ministries will contribute up to what they represent in the national budget, so that the effort is equitably distributed.