“At least 20 billion euros” in savings will be needed in 2025, Thomas Cazeneuve announced.

Savings to be made on state and social security budgets must be reached “at least 20 billion euros” In 2025, nearly double the 12 billion estimated so far, the Minister of Public Accounts, Thomas Cazeneuve, announced on Wednesday March 6 during a hearing in the National Assembly. In question: The “2023 Results” Public Finance and “A revision of our growth forecast to 2024”Reduced from 1.4% to 1%.

Coming in the company of Economy Minister Bruno Le Maire to present the cancellation of ten billion euros of state credit for 2024, Thomas Cazeneuve made it clear that “cancellation” This year is planned “That’s just the first step.” “We have entered a new public fiscal context marked by less favorable economic conditions and higher interest rates”He justified, confirming that he knew “Already the public deficit target of 4.9% (in 2023) will be clearly exceeded”.

Thomas Cazeneuve underlined that the obligation to adjust the state budget by ten billion euros in 2024 came from lower revenues in 2023 compared to forecasts. But there was a cost “get dressed”

He continued, along “Six billion euros less spending”. He added that the state had “7.7 billion euros collected” Revenues were lower than expected last year, including 4.4 billion euros less in corporate tax, 1.4 billion less in VAT and 1.4 billion less in income tax.