The Banque de France governor says the government must finally get “seriously” about public spending
The governor of the Bank of France, Francois Villeroy de Galhau, predicted on Thursday March 28 that the reduction of the deficit in 2023 made it necessary to take care. “Finally Serious Expenses” Public, then “Fifteen years without governments (…) their commitments.
A deterioration in the deficit in 2023, which reached 5.5% of GDP instead of the 4.9% initially planned by the government, “Of course it does not mean the bankruptcy of France”He tried to reassure, but she called for it “necessary”.
You have to be careful “Finally Serious Expenses” Public, Mr. Villeroy de Galhou insisted, during a speech at the University of Paris Dauphin-PSL, a copy of which was consulted by Agence France-Presse (AFP). and this, “Before taking any potentially necessary decisions on tax”He speculated with regard to recent proposals aimed at levying taxes “Excessive Profits” businesses or to carry out targeted tax increases.
Ten billion euros in savings for 2024
Despite the slippage in 2023, the government maintained its objective of reducing the public deficit below 3% of GDP in 2027 as promised to its European partners. To achieve this, he wants to turn the budgetary screw.
Ten billion euros in savings have already been made for 2024 and 20 billion in cuts have been announced for 2025. But “Additional Savings” will be necessary, according to the Minister of Economy and Finance, Bruno Le Maire.
“It is not time to order a general reduction in costs and expenses, but to achieve this general stabilization in volume”Detailed Mr. Villeroy de Galhau. “This requires an effort of priority and efficiency, fair and shared by everyone: the state, but also local authorities and social services. »
Parliamentarians from the majority and the opposition were invited to the economy ministry on Thursday to propose ways to save money. A second meeting has been announced, this time in Bercy on April 9, with associations of local elected officials, for possible savings in local authorities.
