French Finance Minister reiterates taxes will not go up, despite deficit

Reuters

France's finance ministry expects the public sector budget deficit to overshoot its 2024 target by a wide margin if no corrective action is taken

Inti Landauro, Reuters News

March 22, 2024

PHOTO

The French government will not increase taxes despite the country's deficit, reaffirmed Finance Minister Bruno Le Maire to BFM TV on Friday.

France's finance ministry expects the public sector budget deficit to overshoot its 2024 target by a wide margin if no corrective action is taken, a senator said on Thursday after consulting estimates from the ministry.

Senator Jean-Francois Husson told reporters that the 2023 public accounts, which are to be published on Tuesday, would show the 2023 budget deficit reached 5.6% of gross domestic product in 2023, well in excess of the government's 4.9% target.

(Reporting by Inti Landauro; Editing by Sudip Kar-Gupta Editing by Sudip Kar-Gupta)

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