French public auditor stresses need for extended timeline to reduce budget deficit
France’s budget deficit timeline needs to be extended beyond the current 2027 deadline set by the European Union, according to Pierre Moscovici, head of the public audit office. Moscovici stated that France’s finances have veered significantly off track this year, making it unrealistic to meet deficit-reduction goals without substantial spending cuts. Meeting the EU’s 3% of GDP deficit limit by 2027 would require 100 billion euros in cuts, which Moscovici deemed unfeasible. Instead, he advocated for targeted budget savings over extensive cuts, noting that France already has one of the highest tax rates globally.
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Emma Collins, graduated in Financial Economics from the University of Chicago in the USA in 2016. She has since worked at an asset management firm in New York, where she specializes in investment strategies and portfolio management. Emma has a keen interest in financial analysis and has published several articles in renowned financial journals. Her work focuses on providing actionable insights to investors, and she is known for her forward-thinking approach to managing financial portfolios.