France’s Finance Minister Éric Lombard will present his budget proposals to Prime Minister François Bayrou on Saturday, January 11, after a week of negotiations with opposition parties.
According to Bloomberg, Éric Lombard emphasized that the goal of the discussions was to draft a budget that takes into account the demands of the opposition and reduces the budget deficit, which currently stands at 6.1%. The minister expressed his intention to lower the deficit to a level “slightly above 5%.”
Budget Minister Amélie de Montchalin stated that opposition parties recognized the need for swift budget approval during the negotiations.
For Bayrou’s government, this process presents a significant challenge, as his team lacks a parliamentary majority. The absence of consensus on the budget previously led to the collapse of Michel Barnier’s government.
The Socialist Party has already threatened to table a vote of no confidence if the government fails to make key changes to the unpopular pension reform.
