France's 2023 deficit exceeded expectations at 5.5% of GDP, higher than the targeted 4.9%. Moody's warns that reducing the deficit to 2.7% by 2027 is unlikely, citing risks in the government's fiscal strategy. The finance minister attributes the deficit increase to diminishing tax revenues and slowing inflation. Critics highlight France's historical struggle to stay within the 3% GDP threshold, comparing its budget discipline unfavorably to Italy's. President Macron's overspending is criticized for the budget deficit growth, impacting his popularity as the deficit reaches unprecedented levels, ranking behind only Greece and Italy in the EU.
France faces a dire economic reckoning as its deficit skyrockets to unprecedented levels, trailing only behind Greece and Italy in the EU. https://t.co/qD246hgNDK
BIG GOV'T = OVERSPENDING = HUGE DEFICITS. Thanks to Pres. Macron's FISCAL IRRESPONSIBILITY, France's budget deficit grew to 5.5% in 2023 – far above Macron's goal of 4.9%. Just another reason why Macron's tanking in the polls. https://t.co/Sr0yN0006P
France is a serial budget deficit exceeder! Since the Great Financial Crisis, it has managed to stay within the 3% of GDP threshold just once! France is worse than #Italy when it comes to budget discipline. https://t.co/RMyHJGwfij
France's finance minister has said diminishing tax revenues combined with slowing inflation caused the nation's budget deficit to grow to 5.5 percent of GDP last year, instead of the 4.9 percent the government had predicted. https://t.co/SjVr0Vxwaj
French 2023 deficit was 5.5% of output, the government targeted 4.9% https://t.co/nMHM9u1uFb https://t.co/cbZx5HUfLQ
🔴 MOODY'S: FUNDAMENTALLY, FRANCE'S DEFICIT SHORTFALL HIGHLIGHTS THE INHERENT RISKS IN THE GOVERNMENT'S MEDIUM-TERM FISCAL STRATEGY.
🔴 MOODY'S: FRANCE'S LARGER-THAN EXPECTED 2023 DEFICIT MAKES IT UNLIKELY THAT THE GOVERNMENT WILL SUCCEED IN REDUCING THE DEFICIT TO 2.7% OF GDP BY 2027.
MOODY'S SAYS FRANCE'S LARGER-THAN EXPECTED 2023 DEFICIT MAKES IT UNLIKELY THAT THE GOVERNMENT WILL SUCCEED IN REDUCING THE DEFICIT TO 2.7% OF GDP BY 2027