According to legal media reports, on June 2, rating agency Standard & Poor’s announced that in view of the French government’s recent revision of the fiscal budget strategy, and the implementation of pension reform, the end of energy subsidies and other measures, France’s credit rating will be maintained at “AA”, but the outlook is still “negative”.
According to S&P, France’s fiscal deficit will fall from 5 per cent in 2023 to 3.8 per cent in 2026, but public debt will remain above 110 per cent of GDP.
In response, French Finance Minister Le Maire said that this is a positive signal. The French government will continue to reduce spending, promote employment and end special subsidies and energy subsidies in order to improve fiscal stability, reduce the debt burden and create favourable conditions for achieving full employment.