The French budget deficit rose to 5.5% according to new data by statistical agency Insee. Prime Minister Attal announced welfare cuts could be imposed to lower the budget deficit to 2.7 percent by 2027.
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00:00 "The French government has outlined new measures to tackle the country's severe budget deficit.
00:08 Last year's shortfall surged to 5.5 percent of GDP, according to figures released this
00:14 week.
00:16 Prime Minister Gabriel Attal says the administration still aims to reduce the deficit to under
00:21 three percent by 2027.
00:24 Slashed public spending, such as cutting welfare payment durations, has been proposed by the
00:29 PM to meet spending targets.
00:32 Attal said he would not consider raising taxes.
00:36 Ratings agency Moody's has panned the proposals.
00:43 Economy Minister Bruno Le Maire will meet majority and opposition parliamentarians this
00:48 Thursday to form a 2025 budget.
00:52 The upcoming budget will be made public at the end of June.
00:55 [BLANK_AUDIO]