OECD urges France to reduce spending

The Organisation for Economic Co-operation and Development (OECD) called on France to implement deep and sustainable fiscal reforms through reducing public spending, in order to address the increasing budget deficit, which reached 5.1% of GDP last year, and the rising public debt to 117.5% of GDP. There are expectations that the situation will worsen due to rising debt interest costs, aging populations, and climate transition challenges. The organization emphasized the need to restructure spending and reduce the tax burden on labor to support growth and achieve fiscal sustainability.

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