Finance
French PM Bayrou says he will unveil budget-cutting proposals in early July
Published by Global Banking & Finance Review®
Posted on May 27, 2025
2 min readLast updated: January 23, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on May 27, 2025
2 min readLast updated: January 23, 2026
French PM Bayrou will unveil budget-cutting proposals in July to control public finances, aiming for equilibrium over 3-4 years.
PARIS (Reuters) -French Prime Minister Francois Bayrou said on Tuesday he will unveil proposals in early July to get public finances under control, adding that "everyone will have to make an effort".
"In early July, I will propose to the French people a plan to return public finances to equilibrium over 3 or 4 years," Bayrou told BFM TV without providing further details.
"We have allowed deficits to pile up, we have allowed a mountain of debt to accumulate. The country is over-indebted," he added.
Bayrou also reiterated he was in favour of proposing a referendum on the country's budget but that the decision was in the hands of President Emmanuel Macron.
Centrist Bayrou's minority government is trying to come up with 40 billion euros in budget savings to cut its fiscal deficit to 4.6% of economic output next year, but many of the measures floated so far have found little political support.
The French government is struggling to get its public finances back under control after spending spiralled higher last year and tax income fell short of expectations as a snap legislative election delivered a deeply divided parliament.
(Reporting by Dominique Vidalon, Editing by William Maclean)
Prime Minister Francois Bayrou stated he will propose a plan to return public finances to equilibrium over the next 3 to 4 years.
The French government aims to cut its fiscal deficit to 4.6% of economic output for the next year.
The government is struggling to control public finances after spending increased significantly last year and tax income fell short of expectations.
Bayrou mentioned he supports proposing a referendum on the budget, but the decision ultimately rests with President Emmanuel Macron.
The minority government led by Bayrou is trying to achieve 40 billion euros in budget savings.
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