French PM stresses government’s focus on stability, dialogue, comprehensive reforms


(MENAFN) On Tuesday, French Prime Minister François Bayrou outlined his government's focus on stability, dialogue, and comprehensive reforms, with particular emphasis on pensions. In his general policy address, Bayrou stressed the urgent need to address France’s historic public debt, acknowledging that "France has never been as indebted as it is today." He highlighted financial stability as a key priority, detailing plans to reduce the deficit to 5.4 percent of GDP by 2025 and down to around 3 percent by 2029.

To achieve these fiscal goals, Bayrou called for significant reforms across all ministries and proposed the sale of public assets to create a special fund dedicated to state reform, primarily through real estate assets. He also pledged that his administration would limit tax increases and prioritize "massive de-bureaucratization," aimed at simplifying administrative processes for both citizens and businesses.

Bayrou emphasized the importance of restoring democratic trust and suggested the creation of a "democracy bank," which would ensure independent financing for political parties and election campaigns. This move is part of broader efforts to strengthen the country’s democratic institutions and reduce undue influence in political processes.

Regarding pension reform, Bayrou reaffirmed the government's commitment to revisiting the issue, calling it "vital" for the country. Although he rejected calls to suspend or repeal the controversial 2023 law that raised the retirement age to 63 by the end of 2026 and 64 by 2030, he assured that a revised pension reform plan would be included in the 2026 budget. Bayrou expressed confidence in finding a new approach to reform, one free from rigid ideologies, and aligned with the country’s broader goals. 

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