Bank of France says country needs to save €15-20 billion a year to bring deficit down to 3% by 2029

BanqueFrance

Banca March | The governor of the Bank of France, François Villeroy, confirms that the plan to reduce the deficit to 5.4% this year is going in the right direction. Last week the new French prime minister set the deficit target for 2025 at 5.4%, compared to the 5% set by his predecessor. Villeroy had previously warned of the need to reduce the fiscal imbalance to below 5.5% and bring it closer to 5% as far as possible. Furthermore, the French governor pointed out that, from 2026, France needs to save between €15 and €20 billion a year to bring the deficit down to the 3% threshold in 2029.

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