France Needs ‘Substantial’ Extra Efforts on Budget, IMF Says
- Fund comments on fiscal plans as part of Article IV mission
- Finance minister pledges to do everything to hit deficit goal
Emmanuel Macron
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French President Emmanuel Macron received another warning about the country’s high debt burden as the International Monetary Fund said more efforts are needed to get budget deficits under control.
The deficit will remain elevated at 5.3% of economic output this year and only fall modestly to 4.5% in 2027, taking into account current legislation and clearly specified measures, the IMF said in a statement on the preliminary findings of its Article IV report on France.