CosmicTaco

France Faces Bigger Budget Deficit

CosmicTaco · 2024-09-03T11:01:39.580979+05:30

- **France** risks a larger budget deficit this year due to lower tax revenue. - Finance ministry updated lawmakers on the budget, revealing a potential 5.6% deficit. - **Value added sales tax**, income tax, and corporate tax are weaker than expected. - Extra budget savings of 15 billion euros needed to meet targets. - Pressure mounts on **President Macron** amid political stalemate and hung parliament.

France risks a larger budget deficit this year due to lower tax revenue.
Finance ministry updated lawmakers on the budget, revealing a potential 5.6% deficit.
Value added sales tax, income tax, and corporate tax are weaker than expected.
Extra budget savings of 15 billion euros needed to meet targets.
Pressure mounts on President Macron amid political stalemate and hung parliament.