France's Budget Deficit, Debt Reduction
This is a France news story, published by Le Monde, that relates primarily to Michel Barnier news.
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spending cutsLe Monde
•French PM Barnier promises spending cuts and tax hikes to reduce 'colossal' debt
67% Informative
Michel Barnier calls France 's debt "the true sword of Damocles hanging over the head of France and of every French person" Barnier: "Our aim is to reduce the deficit to 5% (of GDP) in 2025 (...) on the right path to reach the 3% ceiling in 2029 " He says Paris would find " two-thirds " of its planned 2025 deficit reduction by "reducing spending" Public spending amounts to 57% of GDP, compared to 49% across Europe .
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