Lecornu announces a budget adjustment of EUR 54 billion

French Prime Minister Sebastien Lecornu has announced a budget plan that includes cuts of €54 billion , including freezing public salaries and some pensions, and limiting non-contributory aid to foreigners, and has warned that the country will close 2027 with a 6.5% deficit if these measures are not adopted.

Lecordu announced in an interview published this Thursday in Le Figaro the budgets he intends to take to the French National Assembly before the government begins negotiations with the other parties in Parliament.

The French Government's target for 2027 is a maximum deficit of 5% of GDP, far from the 3% required by the European Stability Pact for all partners. The 2026 will close above that figure.

It will freeze civil servants' salaries and some pensions.

At a time when financial markets are demanding high interest rates for French state debt, Lecordu has said he will save, but "without taking awaythe protective net from the poorest. "

The Prime Minister has stated that thewage freeze for civil servants , which is normally updated annually on the basis of inflation, will "release €2 billion" in the budget.

He also talked about thesavings he wants to make in 2027 in the area of pensions . He wants to "save up to EUR 6 billion by cutting tax benefits or freezing part of pensions."

"When a foreigner arrives in France legally, he does nothave to wait for time to begin to enjoy his rights, while a Frenchman living abroad has a time limit for doing so. Some may think it is a symbolic measure; others, at the opposite end, will certainly take it as a measure of the right. But it is a reasonable measure, "says Lecorn.

The Ministry of Labour will be one of the most affected by the cuts, one of which will be the reduction of sick leave paid by the State, which will result in a 2 billion reduction in spending.