Moody's cites France political divide as challenge

France is facing a period of uncertainty regarding the approval of its 2027 budget, amidst political divisions in Parliament and the upcoming presidential elections. Moody's agency expects the path for the government's ability to control public finances to be difficult, as its financing needs continue to rise to around 340 billion euros, with debt service costs increasing to approximately 73 billion euros in 2027. The government plans to reduce the overall deficit to 5% of GDP in 2027 through measures to increase revenues and cut spending, with an expected economic growth of 1% and inflation held steady at 1.8%. Amid ongoing financial and political pressures, France's challenges in controlling its deficit and public debt are intensifying, especially with upcoming reforms that include increasing its contributions to the European Union budget, which are expected to reach 31.5 billion euros in 2027.

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