عربي English Türkçe اردو فارسى
Logo
Latest News
Business

France's 2026 Deficit Target Implies 40 billion Euros of Savings, Minister Says

French Minister for Economy, Finance, Industrial and Digital Security Eric Lombard looks on during the questions to the government session at the National Assembly in Paris, France, March 18, 2025. REUTERS/Sarah Meyssonnier/File Photo
French Minister for Economy, Finance, Industrial and Digital Security Eric Lombard looks on during the questions to the government session at the National Assembly in Paris, France, March 18, 2025. REUTERS/Sarah Meyssonnier/File Photo
TT
20
TT

France's 2026 Deficit Target Implies 40 billion Euros of Savings, Minister Says

French Minister for Economy, Finance, Industrial and Digital Security Eric Lombard looks on during the questions to the government session at the National Assembly in Paris, France, March 18, 2025. REUTERS/Sarah Meyssonnier/File Photo
French Minister for Economy, Finance, Industrial and Digital Security Eric Lombard looks on during the questions to the government session at the National Assembly in Paris, France, March 18, 2025. REUTERS/Sarah Meyssonnier/File Photo

France's plan to lower its budget deficit to 4.6% of economic output in 2026 from 5.4% this year implies finding 40 billion euros ($45.4 billion) of savings, finance minister Eric Lombard said on Sunday.

"I am sticking to the target of 4.6% for 2026, which will require an extra and very considerable effort worth 40 billion euros," Lombard told BFM TV.

"We are in a state of emergency, regarding our budget," he added, Reuters reported.

France, the euro zone's second-biggest economy, is targeting a gradual reduction in its budget deficit in order to meet EU rules.

As a first step, it wants to trim the deficit to 5.4% of economic output this year from 5.8% last year, with a view to bringing the shortfall in line with an EU ceiling of 3% by 2029.

France cut its 2025 economic growth forecast to 0.7% from 0.9% on Wednesday, reflecting uncertainty from the global trade war caused by US President Donald Trump's tariffs.

Most Viewed

 
Business

Syria Meeting Focused on Need for Credible Economic Data, IMF Chief Says

International Monetary Fund (IMF) managing director Kristalina Georgieva, speaks during a Press Briefing on "International Monetary and Financial Committee (IMFC)" during the IMF/World Bank Group Spring Meetings at the IMF headquarters in Washington, DC, on April 25, 2025. (AFP)
International Monetary Fund (IMF) managing director Kristalina Georgieva, speaks during a Press Briefing on "International Monetary and Financial Committee (IMFC)" during the IMF/World Bank Group Spring Meetings at the IMF headquarters in Washington, DC, on April 25, 2025. (AFP)
TT
20
TT

Syria Meeting Focused on Need for Credible Economic Data, IMF Chief Says

International Monetary Fund (IMF) managing director Kristalina Georgieva, speaks during a Press Briefing on "International Monetary and Financial Committee (IMFC)" during the IMF/World Bank Group Spring Meetings at the IMF headquarters in Washington, DC, on April 25, 2025. (AFP)
International Monetary Fund (IMF) managing director Kristalina Georgieva, speaks during a Press Briefing on "International Monetary and Financial Committee (IMFC)" during the IMF/World Bank Group Spring Meetings at the IMF headquarters in Washington, DC, on April 25, 2025. (AFP)

Officials from the International Monetary Fund, World Bank and key countries met with Syrian authorities this week on efforts to rebuild the war-torn country, emphasizing the need for credible data, IMF Managing Director Kristalina Georgieva said on Friday.

Georgieva said rebuilding Syria's central bank and expanding the country's capacity to generate revenue were other key issues addressed during the meeting that took place during the spring meetings of the IMF and World Bank.

Saudi Arabia's Finance Minister Mohammed Al-Jadaan, who chairs the International Monetary and Financial Committee, said he was grateful to the IMF and World Bank for stepping up support for Syria, noting others including Yemen, Palestine and Lebanon would also need help.