France’s next president faces having to immediately implement austerity measures to avoid breaching EU budget rules, the European Commission warned in its winter economic forecasts on Feb. 13
In its last set of projections ahead of France’s first-round presidential contest in April, Brussels noted that the French budget deficit is on course to hit 3.1 per cent of gross domestic product in 2018, just exceeding the euro area’s agreed 3 per cent limit. There is also a risk that the deficit could breach the limit this year.
