Brussels admonishes France over deficit as election nears – Europe live
Country is among seven that could face fines as it heads for high-stakes vote this month
Manfred Weber, a German politician and influential political figure in Brussels, has been re-elected as leader of the European parliament’s biggest group, the centre-right European People’s party.
What has the European Commission concluded today?
The government deficit has been above 3% of GDP since 2020; it decreased from 6.6% of GDP in 2021 to 4.8% of GDP in 2022, before increasing to 5.5% in 2023. It is projected to decline to 5.3% in 2024 and 5.0% of GDP in 2025.
Government debt decreased from 113.0% of GDP at the end of 2021 to 111.9% at the end of 2022 and further to 110.6% at the end of 2023. It is projected to increase to 112.4% and to 113.8% at the end of 2024 and 2025, respectively.
According to the Commission’s forecast, the government deficits in Belgium, Estonia, France, Italy, Hungary, Malta, Poland, and Slovakia are projected to exceed 3% of GDP in 2025. Therefore, the deficits in excess of the reference value are assessed to be not temporary for Belgium, Estonia, France, Italy, Hungary, Malta, Poland, and Slovakia.
Differently, the government deficits in Czechia, Spain, Slovenia and Finland are presently projected not to exceed the reference value in 2025, and therefore the excess deficits are assessed as temporary.