Moody's and Fitch keep France's sovereign score unchanged | EUROtoday

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Sreduction within the corridors of Bercy. The score company Moody's maintained France's sovereign score on Friday on the Aa2 degree with a steady outlook. For its half, Fitch, which downgraded France's sovereign score final yr, additionally left it unchanged on Friday night, at degree AA- with a steady outlook.

In a press launch, Bruno Le Maire, declared to take “note” of the choice of the 2 score businesses Moody's and Fitch to keep up unchanged their “This decision must invite us to redouble our determination to restore our public finances and meet the set objective by the President of the Republic: to be below 3% deficit in 2027,” added the Minister of the Economy and Finance in a press release.

READ ALSO The debt burden will soon be heavier than the national education budgetThe recent slippage in public finances raised fears of the worst. At the end of March, INSEE reassessed the public deficit at 5.5% of GDP for 2023, instead of the 4.9% initially planned. In mid-February, the Minister of the Economy was forced to lower his growth forecasts to 1% for 2024 compared to the 1.4% forecast. In March, the rating agency Moody's deemed it “unlikely” that France would handle to cut back its public deficit to 2.7% by 2027.