France vows to cut deficit within EU rules by 2027

Luxembourg: French Finance Minister Bruno Le Maire on Friday insisted France would slash the public deficit to below three percent of GDP by 2027, aft...

Luxembourg: French Finance Minister Bruno Le Maire on Friday insisted France would slash the public deficit to below three percent of GDP by 2027, after the EU reprimanded Paris for breaking budget rules.

"We have to come back to sound public finances and count on my total determination," Le Maire told reporters in Luxembourg.

"We will stick to the same path with the view to get the three percent, to be under the three percent by 2027."

France has been thrown into political uncertainty after President Emmanuel Macron called a snap vote following his party's crushing defeat against the far right this month.

Political parties on both sides of the spectrum have made abundant spending promises, which Le Maire blamed for the market volatility in France in recent days.