French PM Lecornu pledges €54 billion in spending cuts to tackle deficit

French Prime Minister Sébastien Lecornu said on Thursday that France will cut public spending by €54 billion next year in an effort to reduce the country's budget deficit, according to France 24.

The announcement comes seven months before France's presidential election, a timing that adds political weight to the government's fiscal plans, the report noted.

France 24 reported that the government is wary of triggering a new wave of demonstrations, particularly as rising global oil prices have stoked concerns over the cost of living among the public.

Details on how the €54 billion in cuts would be distributed across government programs were not immediately specified in the announcement.

The proposed reduction reflects broader efforts by French authorities to bring the country's deficit under control, though the political and social risks of austerity measures remain a key concern for the government as it navigates the period leading up to next year's presidential vote.