Photo: The Palais Bourbon, seat of the French National Assembly / Ibex73, Wikimedia Commons / CC BY-SA 4.0
By: JBizNews Desk 🌎
France’s National Assembly rejected the government’s proposed 2027 budget on Wednesday evening, dealing the government a fresh blow hours before nationwide strikes expected on Thursday, CNBC reported.
The government is seeking about 54 billion euros in spending cuts as it tries to rein in France’s deficit and debt, CNBC reported. The rejection leaves it unclear how the budget will move forward, and analysts are discussing options such as invoking Article 49.3, a constitutional tool that lets a government pass a budget without a vote; the report does not say it has been used.
Strikes called for Thursday were expected to disrupt services across the country, though turnout had not been confirmed.
For readers: the fight is over how fast France cuts what it spends, and until a budget passes, questions remain over the country’s borrowing costs and the pressure on European markets, CNBC reported.
JBizNews Desk | Paris
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