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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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