Francois Bayrou announced measures to address France's growing budget deficit

Francois Bayrou has announced measures to address France's growing budget deficit. The government plans to reduce the deficit by 43.8 billion euros ($50.88 billion) to stabilize public finances, aiming to lower it to 4.6% by 2026 and 3% by 2029. Last year, France's deficit reached 5.8% of GDP, nearly twice the EU limit, due to falling tax revenues and increased spending.

Prime Minister Bayrou warned that France has become dependent on government spending and risks a credit rating downgrade if action isn't taken. The plan includes freezing most government spending (except for defense), cutting 3,000 civil service jobs, merging agencies, and limiting healthcare payments. Additional savings will come from freezing social benefits, wages and tax benefits. The government also proposes reducing some public holidays to improve productivity, according to reports.