Can France learn from Italy to overcome its fiscal crisis?
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France faces political and fiscal instability following Prime Minister Sebastien Lecornu's resignation after 27 days in office, marking the eighth prime minister in five years under President Emmanuel Macron. This turmoil could delay the approval of the 2026 budget, as seen in 2024 when the previous year’s budget was "rolled over." Rating agencies have warned about France's fiscal issues, with Fitch downgrading its rating and S&P highlighting non-compliance with EU Stability and Growth Pact rules. Since Macron took office in May 2017, public spending has increased significantly while national debt rose to €1 trillion, reaching 114% of GDP from 101%. France's budget deficit has widened from 3.4% to 5.8%, exacerbated by crises like the COVID-19 pandemic and energy price shocks.
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This article was automatically classified using rule-based analysis. The political bias score ranges from -1 (far left) to +1 (far right).
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