French PM to propose €54B budget squeeze for 2027 – POLITICO

PARIS — French Prime Minister Sébastien Lecornu said his government’s budget for 2027 will include a staggering €54 billion in savings as he attempts to contain the country’s growing deficit in a year that’s seen little to no economic growth.

In an excerpt of an interview published by French daily Le Figaro, Lecornu said that without any cuts, the budget deficit would spike to 6.5% of gross domestic product — making it all but impossible for the government to keep its promise to the European Commission to get that figure to 3% of GDP by 2029.

“These savings will serve to considerably curb the growth of spending, which has been rising inexorably year after year” due to an aging population which increases health and old-age-related costs, Lecornu added.