S&P Sticks With France Rating in Reprieve for Prime Minister
- Government risks being brought down over 2025 budget plan
- Ratings agency sees French deficit around 6.2% at end of year
Michel Barnier
Photographer: Nathan Laine/BloombergThis article is for subscribers only.
French Prime Minister Michel Barnier won a minor reprieve in his battle to pass a budget and remain in power as S&P Global Ratings reiterated its assessment of the country’s debt.
In a statement late Friday, S&P said the euro area’s second-biggest economy remains resilient despite political uncertainty. It cited the impact of labor market reforms under President Emmanuel Macron, high private sector savings, exports, and European Union membership.