France seeks EU extension for debt reduction plan submission

Financial Times September 8, 2024, 06:01 PM UTC

France has requested an extension from the EU to submit its debt reduction plans, originally due on September 20, as new Prime Minister Michel Barnier forms his government amid worsening public finances. The public deficit is projected to exceed 5.6% of GDP this year. France is one of seven EU nations under an excessive deficit procedure, with new fiscal rules reintroduced post-pandemic.


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