Macron’s Travails Worsen as S&P Lowers France’s Credit Rating
- French government has missed its deficit reduction goals
- Political rivals slam budget policies ahead of EU vote
Emmanuel Macron
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
S&P Global Ratings downgraded France, tarnishing President Emmanuel Macron’s record for debt management and plunging him deeper into political difficulties a week before European elections.
In a statement on Friday, the credit assessor highlighted the French government’s missed goals in plans to restrain the budget deficit after huge spending during the Covid pandemic and energy crisis.