French Finance Minister Pushes Forward with 2025 Budget Approval

French Finance Minister Eric Lombard confirmed progress in talks to pass the 2025 budget through parliament. Aiming to reduce the public sector deficit to 5.4% of GDP, the government faces negotiations to finalize the budget amid investor concerns and potential political repercussions.

French Finance Minister Eric Lombard announced on Friday that discussions regarding the 2025 budget's approval by parliament are moving forward positively, though additional compromises might be necessary.

Addressing the nation on TF1 television, Lombard reaffirmed the government's commitment to reducing the public sector deficit to 5.4% of GDP for the year. His remarks coincided with a crucial negotiation among French legislators to settle the final draft of the critical 2025 budget bill, vital for restoring investor confidence and ensuring government stability.

French lawmakers engaged in closed-door deliberations to reach a consensus before the budget returns to the lower house next week, where it could face a challenge in the form of a no-confidence motion. "What I am hearing is that the talks are occurring in a constructive spirit and are advancing at a satisfactory pace. I trust lawmakers. They are aware of the gravity of the situation. I believe we are on the right track," Lombard emphasized.

(With inputs from agencies.)