Macron’s Government Warns of Harsher Spending Cuts Next Year
- Minister predicts 2025 savings will need to exceed €20 billion
- Government already plans a €10 billion reduction this year
Emmanuel Macron
Photographer: Nathan Laine/BloombergThis article is for subscribers only.
The French government will likely have to find significantly greater savings than previously expected in 2025 even after rushing through a round of cuts this year to meet its deficit reduction targets, Budget Minister Thomas Cazenave said.
The required reduction in spending in next year’s budget will probably exceed €20 billion ($21.8 billion), up from a prediction of more than €12 billion he gave last month. Cazenave said he will meet with lawmakers in the coming weeks to start discussing options.