Francois Bayrou unveiled the 2026 budget proposal aiming to reduce public spending and increase defense expenditures in France. Proposed measures include axing two public holidays and freezing expenses, excluding debt servicing and defense. The objective is to decrease the public deficit from 5.8% last year to below 4.6% next year and under 3% by 2029. Bayrou also suggested working on Easter Monday and May 8th but remains open to alternatives. The Prime Minister's position may be precarious due to potential no-confidence motions during parliamentary budget debates.
Prime Minister Francois Bayrou proposed a 2026 budget that aims to cut public spending, including eliminating two public holidays, while increasing defense expenses.
The government plans to reduce France's public deficit from 5.8 percent last year to below 4.6 percent next year, with a target of under three percent by 2029.
To achieve the budget goals, there will be a freeze on expenses, with notable exceptions for debt servicing and the defense sector.
President Emmanuel Macron announced a proposed increase in defense spending by 3.5 billion euros in 2026, and an additional increase of three billion euros in 2027.
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