French PM Lecornu vows €54 billion in public spending cuts to shrink deficit

Prime Minister Sébastien Lecornu said Thursday that France will cut public spending by €54 billion ($62 billion) in 2027, bringing the deficit to 4.8 percent of GDP excluding defence spending and five percent including it. The government now expects this year's deficit to rise to 5.4 percent, up from 5.1 percent in 2025 — among the eurozone's highest. Lecornu insisted the plan is not austerity, as high fuel prices fuel social tensions seven months before the presidential election.