“The hardest part is ahead of us”, warns Bruno Le Maire

“We must find at least 12 billion euros in savings in 2025,” declared the Minister of Economy and Finance during his greetings to economic players in Bercy.

The Minister of Economy and Finance, Bruno Le Maire, warned on Monday January 8 that “the hardest part is ahead of us” to restore French public finances damaged by the crises. “We must find at least 12 billion euros in savings in 2025”declared the minister while presenting his wishes to economic players in Bercy.

Bruno Le Maire reiterated his determination to straighten out France’s public accounts, by reducing a colossal debt, exceeding 3,000 billion euros, as well as by reducing the public deficit to 4.4% in 2024 (compared to 4,000 billion euros). 9% anticipated for 2023). The 2024 budget was marked by massive savings, in particular via the gradual end of exceptional purchasing power support measures.

New savings proposals in the coming weeks

“The decisions we have made and those that remain to be made are difficult decisions. We will not shy away from the difficulty of these decisions,” warned the government’s number two on Monday.

After the scheduled end of the tariff shield which was intended to deal with the surge in energy prices, “we will make new proposals in the coming weeks, particularly on the basis of the review of public expenditure”he explained.

“With Thomas Cazenave”, his colleague in charge of Public Accounts, “we will be uncompromising on unfunded ministerial announcements. Any ministerial announcement must rigorously and strictly respect the appropriations which have been approved by Parliament”he added.