It is an interview that goes wrong on Bercy’s side. This Thursday, Pierre Moscovici started, in Le Figaro, a very critical interview on the trajectory of French public finances for the five-year period.
The president of the Court of Auditors and the Superior Council of Public Finances (HCFP) thus considers that the Government’s path to clean up the accounts is “not very ambitious”.
According to him, Bercy’s projections are based on “optimistic” growth forecasts for the next 5 years. “The government had accustomed us in recent years to a little more caution, especially during the Covid crisis: I prefer the good surprises observed to the too favorable anticipations”, grinds Pierre Moscovici.
Bercy disputes
Above all, it calls for speeding up the reduction of public spending. “We must find margins and better document the public finance strategy for the coming years,” he judges as much as Bercy’s inflation forecast for these two years (+5%, then +3.2%) seems underestimated.
The interview did not fail to make Bercy react, who assures BFMTV that his forecasts are reliable.
For Bercy, households will resume their consumption habits and thus boost activity by using their savings accumulated during the Covid-19 crisis. Above all, the Government is preparing reforms in the field of pensions, the RSA or unemployment insurance and is committed to an improvement in the geopolitical situation for the coming years.
“The public finance programming law will present in more detail how we will achieve these goals,” Bercy underlines.
Source: BFM TV
