>France will need to find a further €40 billion in savings to reach its 2026 budget deficit target, Finance Minister Eric Lombard said.
>The government is maintaining its 2026 deficit target of 4.6% of GDP, but will require “additional efforts,” Lombard said in an interview with BFM TV on Sunday. Those would consist primarily of savings and could also include higher revenues from economic growth, he added.
mostanonymousnick on
I read the other day (in French and don’t remember where from, so can’t source, sorry) that the only government spending that has significantly outpaced GDP growth in the past 30 years is healthcare, and to a much greater extent pensions. And no one wants to touch either.
BestagonIsHexagon on
For comparison that’s roughly France’s annual military budget.
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>France will need to find a further €40 billion in savings to reach its 2026 budget deficit target, Finance Minister Eric Lombard said.
>The government is maintaining its 2026 deficit target of 4.6% of GDP, but will require “additional efforts,” Lombard said in an interview with BFM TV on Sunday. Those would consist primarily of savings and could also include higher revenues from economic growth, he added.
I read the other day (in French and don’t remember where from, so can’t source, sorry) that the only government spending that has significantly outpaced GDP growth in the past 30 years is healthcare, and to a much greater extent pensions. And no one wants to touch either.
For comparison that’s roughly France’s annual military budget.