France: the deficit is slipping, Emmanuel Macron consults his ministers and his majority. The 2023 public deficit will be "significantly" higher than the 4.9% of GDP forecast.
The objective of a deficit reduced to 4.4% this year appears out of reach. Some MPs are calling for increasing taxes on the “ultra-rich” or large businesses. But the government refuses to touch the tax lever. A downgrade of France's rating could lead to an increase in the interest rates at which the government refinances.