France's Growth Decline Threatens Budget Deficit Targets for 2026

French Finance Minister Roland Lescure warned that the French economy faces significant challenges threatening the achievement of the 2026 budget deficit reduction targets. These challenges are due to a slowdown in economic growth and the repercussions of the recent war related to Iran, which have impacted energy markets and tax revenues. He announced a downgrade of the 2026 growth forecast to 0.7% from 0.9%, with additional austerity measures of 3 billion euros needed to offset unexpected expenses, amid pressures on local government spending and the sovereign debt burden totaling 3.5 trillion euros.

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