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Public finances: Bruno Le Maire announces a savings plan of 10 billion euros in 2024
Public finances: Bruno Le Maire announces a savings plan of 10 billion euros in 2024 – (FRANCE 2)
Sunday February 18, Bruno Le Maire announced an “immediate effort of 10 billion euros in savings” on state spending. The Minister of Economy and Finance also lowered France’s growth to 1% for 2024.
France’s growth forecast for 2024 was considered optimistic. Finally, it was revised to 1%, instead of the 1.4% initially planned. To make savings without increasing taxes, the State will therefore have to tighten its belt. “The State will make an immediate effort to save 10 billion euros”, assured Bruno Le Maire, Sunday February 18, on TF1. According to the Minister of Economy and Finance, who mentioned a “new geopolitical context”like the war in Ukraine or the conflict in the Middle East, 5 billion euros will have to be found in the functioning of ministries.
Maintain the reduction of the public deficit
Reductions are also planned on public development aid and aid for energy renovation. But these savings may not be enough. Bruno Le Maire’s objective is clear: maintain the reduction of the public deficit and the debt. The minister, however, confirmed the tax cut for the middle classes.
