French Deficit to Be Wider Than Expected, Pressuring Macron
- Shortfall seen at % in 2024 vs prior forecast of 4.4%
- President at odds with finance chief over potential trimming
Emmanuel Macron
Photographer: Ton Molina/BloombergThis article is for subscribers only.
The French government said its deficit will be wider than anticipated as pressure mounts on Emmanuel Macron to cut expenses — or find new sources of state income.
The finance ministry now sees a shortfall of 5.1% this year and 4.1% in 2025, compared to previous forecasts of 4.4% and 3.7%. It will then narrow to 3.6%, before hitting 2.9% in 2027, it said in an update to France’s multi-year public finance plan, which will be submitted to Brussels on April 17.