2023-05-11 23:34:18
The Minister of Economy and Finance, Bruno Le Maire. STEFANI REYNOLDS/AFP
DECRYPTION – Optimistic growth forecasts, expenditure control never achieved… The scenario sent to Brussels is criticized.
This year, they will have had only “a few days late”, joked Gabriel Attal, Minister of the Budget, before the Senate, presenting the content of the 2023-2027 stability program. In 2022, the government sent Brussels this mandatory document on its economic forecasts almost three months after the deadline. A bit dull on the form, France nevertheless wants to play the good student on the merits. In its copy, the Ministry of Finance promises the European institutions that, by the end of the five-year term, it will bring the public deficit below the very symbolic bar of 3% of GDP, to 2.7% precisely. On the debt side, the executive is aiming for a substantial reduction to 108.3% of GDP in 2027, against 111.6% today, a drop of 3.3 points.
A commitment that achieves the feat of being both insufficient – the debt target set by Europe is 60% – and “unbelievable” according to public finance expert François Ecalle. It has nothing…
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