2023-09-27 21:05:47
By Julie Ruiz
Published 2 hours ago, Updated 1 hour ago
Bruno Le Maire, Minister of the Economy, and Thomas Cazenave, Minister for Public Accounts, Wednesday at the Élysée. JOHANNA GERON / REUTERS
DECRYPTION – The government is relying, next year, on savings mainly made by reducing credits for exceptional measures. Structural reforms are postponed. And debt reduction is slipping.
The addiction to public spending is not reducing and the restoration of accounts is long overdue. The State budget (PLF) and that of Social Security (PLFSS) for 2024, presented to the Council of Ministers on Wednesday morning, show the difficulty in turning the page on the health and energy crises. Difficult to reduce the public deficit for the government, caught between its promise not to increase taxes and the political bomb represented by rising prices. Despite the speeches that Bruno Le Maire has been making for several days on “ the categorical imperative » of debt reduction, the savings that the government frantically sought for months remain almost absent.
Certainly this budget respects France’s European commitments, but the 2024 deficit still amounts to 4.4% of GDP (compared to 4.9% last year). In value terms, this still represents nearly 130 billion euros of deficit. As for Social Security, which accounts for 45% of public spending…
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