France's 2025 Budget to Comply with EU Rules

French Finance Minister Antoine Armand has announced that the 2025 budget will fully comply with the European Union's new budgetary rules, aiming to address the country's significant public debt and deficit. The budget, set to be presented on October 10, seeks to reduce the public deficit from an estimated 6.1% of GDP to 5% by 2025, with a longer-term goal of below the EU's limit of 3% by 2029. This marks a significant shift for France, which has faced scrutiny from Brussels for failing to adhere to budgetary commitments. Armand emphasized that the budget aims to strengthen both national and financial sovereignty while maintaining international credibility. The government plans to implement spending cuts and new taxes to achieve these fiscal objectives, with a projected effort of 60 billion euros to improve the financial situation. This presentation comes as Armand meets with EU finance ministers to reassure them about France's commitment to fiscal responsibility.