Minister invites potential successors

French Minister of Economy and Finance Roland Lescure has invited potential successors to his office, showing them the space and discussing the challenges of inheriting a budget. In an interview with Bloomberg, he noted that candidates had visited his office, measuring it to see where they could hang their pictures.

Lescure jokes about budget or chaos

Lescure joked that he told them they would inherit either a budget he had worked on or "the chaos." He stated that they preferred the budget. He expressed confidence that a budget will be adopted by Parliament despite political uncertainties, including the lack of a majority and the upcoming presidential election on 18 April and 2 May.

2027 budget aims to reduce deficit

Lescure mentioned that the government's 2027 budget proposal, debated in the National Assembly since Tuesday, aims to reduce the public deficit to 5% of GDP, down from 5.4% in 2026. French public debt is expected to reach a record level in 2027 at 121.7% of GDP.

Public debt and market pressures

According to the National Institute of Statistics and Economic Studies (Insee), public debt already stood at 119% of national wealth at the end of June. Lescure noted that the bond market is providing some pressure to ensure responsibility, given high interest rates. He also mentioned that in case of no agreement, the government has two "safety slides": the 49.3 and the ordinances.

Confidence in passing the budget

He acknowledged that debates could lead to situations that were not desired but assured that "we will get through this and we will have this budget."