France pushes 'responsible' 2027 budget as Fitch cuts debt outlook to 'negative'
13 Articles
13 Articles
The Fitch Credit Classification Agency has reduced France's outlook from stable to negative, pointing to a slowdown in economic growth.
The score of France has not been degraded by Fitch. It remains set at A+. However, the rating agency lowers its perspective, which goes from "stable" to "negative". In issue ? The "deterioration" of the debt, among other things.
The US agency predicted that the debt level for the European Union's second biggest economy would rise from nearly 115.7% of GDP in 2025 to 124% in 2028.
While the rating agency had maintained its rating and outlook, it considers that there has been a "deterioration of the debt dynamics." According to the Minister of Economy Roland Lescure, "this assessment confirms the absolute need to adopt by the end of the year a responsible budget, which aims to restore the public accounts by reducing our deficit to 5%".
The agency downgrades the French credit perspective and warns that public debt will reach 124% of GDP in 2028, while political blockade and high financial costs threaten the euro’s second economy.
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