french pm barnier warns: france faces serious budget crisis
2024-09-19
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china news service, paris, september 18 (reporter li yang) on the 18th local time, french prime minister barnier warned in his first public statement since taking office that france is facing a serious budget crisis.
barnier stressed the severity of france's public deficit problem that day, saying that more information needs to be collected to assess the exact state of france's public finances. he pointed out that he would be committed to finding a way to achieve economic growth and improve people's living standards, and also expressed his awareness that france's current tax burden is already very heavy.
the bank of france warned this week that it is unrealistic for france to re-achieve the eu's fiscal deficit target for member states in 2027. according to afp, france's public deficit is expected to reach 5.6% of france's gross domestic product (gdp) this year and is expected to reach 6% in 2025, while the eu requires member states to cap their deficit at 3% of gdp.
french public opinion said that barnier might take measures to increase taxes to balance the deficit. former french prime minister attal opposed the tax increase, believing that it was through tax cuts that france regained its economic attractiveness; for the french, tax increases would be "terrible".
barnier was appointed as prime minister by french president emmanuel macron at the beginning of this month. two weeks have passed, but the list of members of the new french government has not yet been announced. on the 18th, he was still negotiating with major french parties on ministerial candidates.
according to french bfm tv, barnier had earlier consulted with macron on personnel issues of the new government and submitted a preliminary list of ministerial candidates to macron, but macron was not satisfied with the list, believing that it did not reflect the essence of a coalition government.
french economy and finance minister bruno le maire and interior minister darmanin are not expected to stay in office, but it is still unclear who will be their successors. according to a poll released on the 18th, most french people hope that there will be more new faces in barnier's new government. more than 70% of respondents are concerned about how the new government will deal with public finances. in addition, immigration issues, purchasing power, and health are also the focus of most people.
source: china news network
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