This is a France news story, published by CNBC, that relates primarily to Goldman Sachs news.
For more France news, you can click here:
more France newsFor more Europe politics news, you can click here:
more Europe politics newsFor more news from CNBC, you can click here:
more news from CNBCOtherweb, Inc is a public benefit corporation, dedicated to improving the quality of news people consume. We are non-partisan, junk-free, and ad-free. We use artificial intelligence (AI) to remove junk from your news feed, and allow you to select the best world news, business news, entertainment news, and much more. If you like this article about Europe politics, you might also like this article about
vast public spending cuts. We are dedicated to bringing you the highest-quality news, junk-free and ad-free, about your favorite topics. Please come every day to read the latest government spending news, tax hikes news, news about Europe politics, and other high-quality news about any topic that interests you. We are working hard to create the best news aggregator on the web, and to put you in control of your news feed - whether you choose to read the latest news through our website, our news app, or our daily newsletter - all free!
budget deficitCNBC
•
86% Informative
France 's newly-installed government presented a draft budget containing 60 billion euros ( $65.6 billion ) in tax hikes and spending cuts in a bid to cut its 6.1% deficit to 5% of GDP by next year .
While tax hikes are focused on big corporations and high earners, the budget also contains politically-controversial measures including a levy on electricity consumption and a delay to pension adjustments.
Analysts warn the package may not be enough to stave off further ratings downgrades for the economy.
France has spread its measures to try to avoid harming economic growth.
Goldman Sachs analysts estimate the impact of the package on economic growth will turn from a 0.3 percentage point boost in 2024 to a5 percentage point drag in 2025 and 2026 .
Insee this week forecast 1.1% growth for the French economy this year , which is "maybe a bit too optimistic".
VR Score
91
Informative language
93
Neutral language
66
Article tone
semi-formal
Language
English
Language complexity
58
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
short-lived
External references
2
Source diversity
2
Affiliate links
no affiliate links