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French finance minister Bruno Le Maire announced another round of budget cuts to commit his country to German-style deficit reduction (Photo: Dean Calma / IAEA)

France's Le Maire 'goes German' with austerity budget

The French ministry of finance announced on Monday (19 February) that it would cut another €10bn out of this year's budget, amid weak growth and ongoing monetary tightening.

"The savings announced will allow us to stay on course for debt reduction," finance minister Bruno Le Maire said in a news conference announcing the measures.

Updated government projections expect the economy to grow by one percent this year instead of the earlier forecasted 1.4 percent.

Although still...

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Author Bio

Wester is a journalist from the Netherlands with a focus on the green economy. He joined EUobserver in September 2021. Previously he was editor-in-chief of Vice, Motherboard, a science-based website, and climate economy journalist for The Correspondent.

French finance minister Bruno Le Maire announced another round of budget cuts to commit his country to German-style deficit reduction (Photo: Dean Calma / IAEA)

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Author Bio

Wester is a journalist from the Netherlands with a focus on the green economy. He joined EUobserver in September 2021. Previously he was editor-in-chief of Vice, Motherboard, a science-based website, and climate economy journalist for The Correspondent.

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