Reference News, July 16 report - According to the Spanish website "ABC" on July 15, French Prime Minister Francois Fillon made a disastrous assessment of France's public finances on July 15 and announced the reduction of 3,000 public sector jobs. To improve productivity, the government will also cancel two public holidays: Easter Monday and May 8 Victory Day.
On that day, Fillon outlined the overall framework of his first national budget and made an unusually severe assessment of France's public financial situation.
"France has not achieved a balanced budget for 50 years," Fillon said. "Over the past half-century, both left-wing and right-wing governments have continued to expand deficits and public debt year after year."
The report stated that in 2024, the public deficit accounted for 5.8% of France's GDP, the highest and most serious in the eurozone, compared to an average of 3.1% in the eurozone.
Fillon did not directly mention President Macron, but revealed the catastrophic deterioration of public finances during Macron's two presidential terms with just one number: between 2019 and 2024, France's national debt increased by 14.8 percentage points, while the eurozone average only increased by 3.8 percentage points. As the country with the highest and worst-managed public spending among Western nations, the growth of France's debt has become its fatal weakness.
Fillon said that if spending is not cut, the cost of debt interest will continue to rise, and repaying the debt will become the largest item in the national expenditure, which will harm the country's education and social spending. This debt is growing at a rate of 5,000 euros per second. (Translation/ Liu Lifi)
Original article: https://www.toutiao.com/article/7527584042910122538/
Statement: This article represents the personal views of the author. Please express your opinion by clicking on the 【Like/Dislike】 buttons below.