2023-06-01 18:33:43
S&P Global, which must rate France on Friday, gives it an “AA” rating with a negative outlook, signifying a risk of a downgrade of at least one notch to “AA-”. THOMAS COEX / AFP
Worried about France’s debt, deficits and risks of deterioration, they recommend cutting social assistance and reducing the number of civil servants, according to an Odoxa – Backbone Consulting – Le Figaro survey.
The French are determined to turn the page of the “no matter whatand could paradoxically prove to be more reasonable than their rulers. Worried about the amount of France’s debt, which is close to 3000 billion euros, the level of deficits and the risk of a deterioration in France’s rating, a majority of them want a return to more budgetary orthodoxy.
Thus, according to the latest Odoxa survey – Backbone Consulting – Le Figaro, a majority of French people (52%) think that France must fight against deficits, even if it means slowing down the economy. In this context, the fall in the public deficit to below 3% of GDP and the debt ratio to 108.3% of GDP by 2027 are seen as important objectives to meet (62%) rather than constraints. that suffocate the economy (37%).
While Fitch lowered France’s rating at the end of April, and the country is awaiting the verdict from Standard and Poor’s this Friday, more than two-thirds of French people (67%) believe that a further downgrade would be “gravefor the French economy. And this, even if they estimate at 58% that it would have no direct impact on their personal situation. They are also numerous to worryas they were in 2012 during the loss of the triple A of France which was an extremely significant event for the spiritsobserves Céline Bracq, CEO of Odoxa.
The French hold the executive responsible for this situation: nearly 6 out of 10 respondents find that the government is increasing public spending too much. 21% believe, on the contrary, that they could open the purse strings more widely when 19% think that what is being done is “ just right“. Of course, these judgments are not homogeneous. “We are ‘pro spending’ until the age of 34, then we become ‘pro reduction’ afterwardsobserves Céline Bracq. “Classic political divisions also persist“. Thus, the left defends the support of the economy above all (58%) when the right (extreme right included) is on a strictly opposite position (58% of sympathizers want a reduction in deficits and expenditure). “Renaissance supporters – who often join those on the right on economic issues – are not on the same line on this subject: 58% prefer that France support economic activity even if it means increasing public spending and deficits“, analyzes Céline Bracq.
To lower public spending, the French, on the other hand, have strong opinions. They are ready to cut social aid (60%) but also to reduce the number of civil servants (53%). “The figures mentioned by Gabriel Attal when announcing his proposals against social fraud probably have something to do with it“, believes Cécile Bracq. On the other hand, they refuse to reduce aid to businesses (53%), and above all to lower grants to communities (68%).
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