💨 Abstract

France's new Finance Minister Eric Lombard aims to set a deficit of slightly above 5% for the 2025 budget to protect growth. This is higher than the 5% targeted by the previous government but lower than this year's projected deficit of above 6%. Lombard plans to reduce the deficit primarily through public spending cuts, with any tax increases being limited. He will consult all political parties in the French parliament for the budget proposals.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖