Éric Lombard has officially taken on the role of Minister of Economy and Finance, stepping into a pivotal position within the Bayrou government as France grapples with a projected budget deficit exceeding 6% in 2024. With a robust background in finance, including leadership roles at Caisse des Dépôts et Consignations and BNP Paribas, lombard is tasked with addressing the nation’s fiscal challenges while maintaining confidence in France’s economic stability. His tenure at the CDC has been marked by significant achievements,such as the establishment of the Territorial Bank and a budget surplus of nearly 4 billion euros in 2023. As he navigates the complexities of budget negotiations, Lombard’s experience and connections with local authorities will be crucial in fostering collaboration and ensuring effective governance.
Time.news Interview: Éric Lombard on France’s Economic Challenges
Editor: Today, we’re honored to have Éric Lombard, the newly appointed Minister of Economy and Finance in France, discuss the pressing fiscal challenges the country faces, particularly the projected budget deficit exceeding 6% in 2024. Éric, welcome and thank you for your time.
Éric Lombard: Thank you for having me.It’s a pleasure to be hear and share insights at this critical juncture for our economy.
Editor: You come into this role with significant experience from your time at Caisse des Dépôts et Consignations (CDC) and BNP Paribas. How do you think your previous roles will influence your approach to tackling France’s current financial obstacles?
Éric Lombard: My past experiences have equipped me with a deep understanding of France’s financial landscape. At CDC, I successfully launched the Territorial Bank and achieved a budget surplus of nearly 4 billion euros in 2023.This experience will guide my strategy as we navigate budget negotiations. Collaboration with local authorities and financial institutions will be essential in fostering a unified approach to restoring fiscal health.
Editor: Given the projected budget deficit, what immediate steps are you looking to implement to stabilize France’s economy?
Éric Lombard: Firstly, it’s crucial to conduct a thorough review of our spending and revenue sources. We need a transparent dialogue with stakeholders regarding fiscal policies to prioritize essential services while identifying areas for potential cuts or reforms. Additionally, enhancing tax collection efficiency will play a critical role in addressing our deficit.
Editor: France’s economic stability has been a concern, especially after the upheaval caused by the COVID pandemic. how do you plan to regain public confidence in our economy?
Éric Lombard: Rebuilding trust begins with transparency and accountability. We must clearly communicate our fiscal strategy and the rationale behind our decisions. Demonstrating tangible outcomes from our policies will illustrate our commitment to economic stability. I aim to engage with citizens and local governments, ensuring that their perspectives inform our economic policy decisions.
Editor: You have a significant track record in establishing innovative financial solutions. Could these experiences inform a potential shift in France’s economic strategy, particularly in light of current challenges?
Éric Lombard: Absolutely. Innovation in finance is vital as we look for lasting solutions. As an example, we may explore public-private partnerships to fund infrastructure projects. I believe that leveraging technology and fostering digital finance can create new avenues for growth, enhance productivity, and ultimately support our broader economic objectives.
Editor: The role of a finance minister in navigating economic challenges cannot be understated. What would you advise young finance professionals looking to contribute to this landscape?
Éric Lombard: My advice is to stay informed and agile in your learning. The financial sector is ever-changing, and adaptability is key. Networking and building relationships in various sectors, including public finance, can provide invaluable insights and opportunities. It’s also crucial to think innovatively about how we can address systemic issues within the economy.
Editor: As we wrap up, what is your vision for France’s economy in the coming years, especially in overcoming the projected challenges?
Éric Lombard: My vision is to foster a resilient and sustainable economy that supports all citizens. This involves not only stabilizing the current budget but also investing in growth areas such as green technologies and digital transformation. By prioritizing inclusive development, we can ensure that France emerges stronger and more equitable in the years ahead.
Editor: Thank you, Éric, for sharing your insights on these vital economic issues. We wish you the very best in your new role.
Éric Lombard: Thank you for having me. I look forward to our collective efforts to strengthen france’s economy.