Finance Minister Lescure Says France Avoids Debt Snowball, Urges 2027 Budget Deal

Economy Minister Roland Lescure addressed the Senate, noting that while borrowing costs have climbed, France is not yet experiencing a debt snowball effect. He pointed out the nation’s high ranking among eurozone debtors and called for a compromise between parliament and the government to pass a 2027 budget that would target a 5% public-deficit ratio. Lescure argued that the average interest cost on debt must stay manageable relative to growth expectations.

Public-accounts minister David Amiel warned against placing the debt-reduction effort on a small group of wealthy individuals, retirees, or large firms, emphasizing that pension and health expenditures have driven most of the public-spending increase over the past five decades. He said France can no longer postpone actions to lower its debt load and highlighted the need for new fiscal measures in the upcoming budget.