In 2023, France's public deficit widened to 5.5% of GDP, or €154bn, from 4.8% in 2022, diverging from the government's target of 4.9%, as reported by INSEE. This fiscal slippage has cast doubts on President Emmanuel Macron's credibility as an economic reformer. The country's public debt also saw a slight decrease, standing at 110.6% of GDP at the end of Q4 2023, compared to 111.9% at the end of Q4 2022, albeit missing the government's target of 109.7%. Macron's strategy to unite left-liberal globalist factions within the European Union is further challenged by these fiscal setbacks, along with €10bn in emergency cuts expected this year on top of €10bn already decreed, raising questions about the financing of the €3bn in weapons promised to Ukraine. Additionally, Macron's aspiration to position himself as Europe's de-facto figurehead on foreign policy is met with skepticism among some allies.
With Donald Trump, France's Marine Le Pen and Hungary's Viktor Orbán, @martinwolf_ asks: are we witnessing the return of fascism? https://t.co/7hEP1bvlP0
French President Emmanuel Macron has been fashioning himself into the Europe's de-facto figurehead on foreign policy. But not all his allies are convinced he’s the best champion of their interests https://t.co/BnQXlDZ6c3
French President Emmanuel Macron has been fashioning himself into the Europe's de-facto figurehead on foreign policy. But not all his allies are convinced he’s the best champion of their interests https://t.co/CBPGmihrNx
French deficit worsens to 'very rare' level https://t.co/2Jkv9T7Pvl
France’s gaping budget hole leaves Macron’s strategy in doubt https://t.co/pQNyTvulxh via @WHorobin https://t.co/nlGNIcOQfj
🛑🛑French Fiscal Policy on Red Alert. I am surprised that this has not gotten more attention. Last week, Senator @jf_husson conducted an onsite investigation at the Finance Ministry and discovered dramatic forecasts for the french budget https://t.co/xhtxJETGgz
Question for @EmmanuelMacron. With the French deficit running out of control in 2023 (5.5% of GDP instead of 4.9%) & €10bn in emergency cuts expected this year (on top of €10bn already decreed) where will you find the so-far unbudgeted €3bn in weapons promised to Ukraine? 1/
NEW: French deficit worsens to ‘very rare’ level https://t.co/JuVqeSmiNy
French deficit worsens to ‘very rare’ level https://t.co/QIhcd0M5BJ
French budget deficit overshoots target to hit 5.6% https://t.co/YfpZrxEZnc
🇫🇷 #France’s Gaping Budget Hole Leaves Macron Strategy in Doubt - Bloomberg https://t.co/IhKgt6hoUA https://t.co/e84Nv5HDuI
#France's public sector deficit for 2023 climbed to 5.5% of GDP, or €154bn, statistics agency INSEE said, undermining President Macron’s credibility as an econ reformer capable of resolving the country’s fiscal challenges. The earlier official govt deficit est was 4.9% of GDP. https://t.co/Rjmz4V2s3t
France’s Gaping Budget Hole Leaves Macron’s Strategy In Doubt - BBG https://t.co/ZTOsmctW7H
France’s budget deficit is slipping away from the government’s control, undermining President Emmanuel Macron’s credibility as an economic reformer capable of resolving the country’s fiscal challenges https://t.co/YALGvC4U0S
🔴 FRANCE'S 2023 PUBLIC DEBT AT THE END Q4 2023 STOOD AT 110.6% OF GDP FROM 111.9% AT END Q4 2022 AND VS THE GOVERNMENT'S 2023 TARGET OF 109.7% - INSEE.
🔴 FRANCE'S 2023 PUBLIC DEFICIT WIDENED TO 5.5% OF GDP FROM 4.8% IN 2022 AND VS THE GOVERNMENT'S 2023 TARGET OF 4.9% - INSEE.
Federal budget deficit now 6.4% of nominal GDP … a high share relative to history but less so compared to post-GFC range https://t.co/zZPENSBnlW
Macron seeks to unite left-liberal globalist factions in the European Union https://t.co/IDMoiszcjw https://t.co/sVR8ZeY7Qs