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France News Today

French news in English

Thursday, October 17, 2024

France's Budget Deficit Sparks Inquiry

Published: 2024-10-15

France is grappling with a significant budget deficit, initially forecasted at 5.1% of GDP but now expected to reach 6.1%.

This unexpected increase has prompted calls for a parliamentary inquiry to uncover the reasons behind the fiscal slippage.

Eric Coquerel, head of the Finance Commission, is pushing for the commission to be transformed into an investigative body to scrutinize the budgetary discrepancies.

The inquiry aims to determine whether the deficit is due to intentional misrepresentation, governmental incompetence, or unforeseen economic factors.

Michel Barnier, the Prime Minister, supports the inquiry, emphasizing the need for transparency and fiscal responsibility.

The outcome of this investigation is crucial for maintaining France's credibility with its creditors and ensuring future economic stability.