EU Sees France’s Fiscal Path as Compliant With Budget Rules
- France cut 2025 deficit reduction goal after government fell
- Paris still aims to get deficit within 3% GDP limit by 2029
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The European Union has told France its plan for slower deficit reduction next year is still within the bloc’s rules, handing Francois Bayrou ’s government a reprieve in its battle to repair creaking public finances.
France aims to bring the deficit within 3% of economic output by 2029, but with a smaller effort this year after the government of Michel Barnier was toppled as it tried to push a stringent budget through parliament.