Before François Bayrou’s budget, the IMF makes its recommendations

Ed Jones / AFP

François Bayrou at a press conference in Puycapel in Cantal in April (Photo by Ed Jones / AFP)

ECONOMY – To Bon Entreur … For example, The International Monetary Fund (IMF) tried this Monday. Moreover, July 14 “Adequate budget adjustment in the medium term envisaged” By the French government to try to control the public deficit of France, which skidded in 2024.

In an annual report that the Washington institution makes public for almost each of its member countries. For example, it recalls that “Despite the efforts to control expenses, the budgetary orientation was again expanding in 2024” : France’s before françois bayrou’s budget, imf deficit had increased to 5.8 % of GDP, much more than the 4.4 % initially anticipated.

The French government has since expressed many times that they want to make savings to bring the public deficit back under 3 % of GDP by 2029. without revealing for the time of concrete economies for 2026. What Prime Minister François Bayrou should do this on Tuesday, July 15.

“Budgetary sanitation” – Before françois bayrou's budget, imf

A project whose IMF supports the principle: it underlines “The urgent need to strengthen public finances” French. “To continue the structural reforms”.

“The medium -term budgetary adjustment envisaged by the authorities is adequate to strengthen public finances and must be supported by (…) a set of credible and well -designed measures”he writes. For the IMF. the ” priority “ that “Budgetary sanitation” must be “The rationalization of current expenses” as well « l’administration » that of the before françois bayrou’s budget, imf “Social Security”.

The institution recognizes that ” compromise “ are “Difficult in the national. international context”a reference in particular to the absence of an absolute majority for the government coalition in the National Assembly.

Among the possible savings avenues that could be revealed on Tuesday is that of “The white year”a freezing in 2026 retirement expenses. pensions at 2025, without revaluation linked to inflation. For the IMF, “The French economy has shown resilience” in 2024 in front of the “Strong uncertainty”.

The fund welcomed “The disinflation that progresses well” – inflation increased to 1 % in June against 2.5 % in June 2024 -. a “Labor market that remains robust,” With a number of job seekers down in the first quarter of 2025.