Highlights: France: an explosion of the deficit which embarrasses the majority. The public deficit ultimately slips to 5.5% of GDP in 2023 instead of 4.9%. A revision which ranks France among the dunces of the euro zone. “So many errors and incompetence, I think of all those who trusted this incapable Bruno Le Maire and who realize today that Bercy is in the hands of a dishonest and incompetent person,” says the parliamentarian Jean-Philippe Tanguy.

France: an explosion of the deficit which embarrasses the majority

Bercy had prepared minds at the beginning of the month, by announcing that the deficit would “significantly” exceed the government’s forecast. The INSEE ax fell this Tuesday morning. The public deficit ultimately slips to 5.5% of GDP in 2023 instead of 4.9%. A revision which ranks France among the dunces of the euro zone. Even though this explosion had been expected for several days by the government, it embarrassed the majority.

The French Minister of Economy and Finance, Bruno Le Maire, at the National Assembly this Tuesday March 26, 2024. AFP - JULIEN DE ROSA

By: RFI Follow

Report to the National Assembly,

Charlotte Urien-Tomaka

France

, the government had prepared people's minds for bad news, but it is clear that even the majority are worried.

“

This is not good news, we must not hide behind our little finger,”

says Pierre Cazeneuve.

Obviously, when we are 0.6 points away from our deficit reduction objective, obviously it is worrying, it means that we still have a long way to go. Unfortunately, this is also due to macroeconomic factors which are difficult to anticipate.

His rebellious MP colleague Éric Coquerel, who chairs the Finance Committee

is also concerned, but by the avenues mentioned by the government to straighten out the trajectory of public finances.

“

We wonder if there is a pilot on the plane and if he is good,”

he says.

My answer is no, and that's what worries me rather than the deficit itself. Because clearly, what the government intends to put on the table to absorb it are the old neoliberal recipes that do not work, these are public spending.

For the RN, the observation is the same and it is final. “

So many errors and incompetence, I think of all those who trusted this incapable Bruno Le Maire and who realize today that Bercy is in the hands of a dishonest and incompetent person

,” says the parliamentarian Jean-Philippe Tanguy.

Questioned this Tuesday during questions to the government on the question of the public deficit, the Prime Minister affirmed that the government would “

continue on this path of austerity

”.

To rereadFrance: Gabriel Attal will answer questions from deputies alone during five sessions

France: an explosion of the deficit which embarrasses the majority

France: an explosion of the deficit which embarrasses the majority

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