The French authorities will do everything possible to accelerate the process of reducing the country’s public debt against the backdrop of a credit downgrade by Fitch analysts. Statements by Bruno Le Maire, Minister of Finance of the Republic opens local TV channel LCI.
April 29, Fitch Ratings (FR) analysts reduced The credit rating of France, the second largest economy in the eurozone. The republic index was lowered from AA to AA- on the backdrop of the increasing budget deficit.
“We have to reduce our debt and speed it up,” Le Maire said.
At the same time, raising interest rates per percentage point would cost the French treasury €15 billion, or $16.5 billion to finance borrowing in 2027. Against this background, Le Maire noted the importance of allocating budget funds for the development of local schools and hospitals.
“I take rating agencies very seriously, but I didn’t expect Fitch to sound the alarm. We didn’t sit around doing nothing. Minister, (On reducing the public debt of France – socialbites.ca, – we will be responsible.