The French government announced this Thursday by decree a budget cut of ten million euros following a downward revision of the country’s economic growth forecast for 2024.
The decree, signed by Prime Minister Gabriel Attal and Economy and Finance Ministers Bruno Le Maire and Thomas Cazenave respectively, includes cuts of two billion euros for “sustainable environment, development and mobility” programs.
The program dedicated to “energy, climate and mining” loses one billion euros, and the “fund for accelerating the ecological transition in the territories” loses more than 400 million euros.
The categories “work and employment” and “science and higher education” will be affected by budget cuts of 1.1 billion and 900 million euros, respectively.
Government development aid is being cut by €740 million, housing assistance is being cut by €300 million, French police by €134 million and prison authorities by around €118 million.
The government announced these cuts in 29 areas on Sunday to meet a target of keeping the government deficit at 4.4% of gross domestic product (GDP) in 2024 and avoid a downgrade of France by international financial agencies.
It comes after authorities revised down to 1% their growth forecast for the French economy this year in the context of geopolitical tensions and an economic slowdown, especially in China and Germany.
Author: Lusa
Source: CM Jornal
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