An alarming notice of the Prime Minister
The French Prime Minister, François Bayrou, called for a reflection during a press conference on April 15, warning that the French people are not working or producing enough. His statement that “we do not have the necessary resources” has led to an intense debate on the sustainability of the current economic model of the country.
Drastic measures in a worrying context
Following the censorship motion that dismissed Michel Barnier last December, BayRou has created a “budget alert committee” and declared a “budgetary emergency state”. France’s public deficit for 2024 fiscal exercise has exceeded expectations, standing at a worrying 5.8%, almost double the limit established by the European Treaty.
A worrying deficit
With a public debt that has reached a record of 113% of GDP, the fiscal situation of France has become unsustainable. This dynamic is reflected in public spending, which by 2023 amounted to 58.4% of GDP, positioning France as the country with the largest public sector in the world.
Public and historical reaction of failures
Despite the severity of Bayrou’s message, its receptivity among citizens is doubtful, as France is known for its culture of high strikes and expectations for public aid. Previous presidents, such as Nicolas Sarkozy and Emmanuel Macron, sought to communicate the need for labor reforms, but were forced to go back to the popular reaction.
An unsustainable dependence
France not only stands out for its high social spending, which in 2019 concentrated 15% of world social spending with only 1% of the population, but also experienced a significant decline in their productivity over the last two decades.
A clear message: the need for changes
Bayrou has intensified his warnings, emphasizing that France is the country that invests the most public money and that other more advanced nations have been able to reduce their expenses in times of crisis. He has shown that debt is a “dangerous trap” that cannot be sustained in the long term.
An appeal to citizen responsibility
In his call for action, he urged the citizens to face the reality of the fiscal situation and to recognize the importance of reforms. “Only with the awareness of our reality can we carry out effective actions,” said Bayrou.
The uncertain future
The executive seeks to reduce the deficit to 5.4% of GDP this year by a decrease in public expenses. However, the response of the French, accustomed to state protection, is uncertain. The unions, on the other hand, have already called for an increase in wealth taxes, highlighting the tensions surrounding the country’s fiscal policy.
