Still without a government, France discusses a new date with the European Commission

The European Commission confirmed on Tuesday 10 September that it was discussing with the French government a new date for sending the country’s public deficit reduction plan within a deadline of “reasonable”confirming the French request for a postponement. The Twenty-Seven are supposed to send their multi-annual budget plan to Brussels by September 20.

France is currently awaiting a new government following the July legislative elections and the appointment of Michel Barnier as Prime Minister. It has been the subject of a European procedure for excessive deficit since the end of July, like six other EU member states.

These countries last year exceeded the limit on public deficits set at 3% of gross domestic product (GDP) by the stability pact, which also limits debt to 60% of GDP. They will have to take corrective measures to comply with the budgetary rules of the European Union in the future, under penalty of financial sanctions. Paris has promised to return below the 3% threshold in 2027, a target considered implausible by many experts. The deficit reached 5.5% of GDP last year.