“It is impossible to postpone the effort.” Following the publication of the alarming report of the Court of Auditors on the situation of public finances, its president Pierre Moscovici recalled the need to reduce the public deficit as quickly as possible to respect the trajectory of the government that the objective of a deficit of less than 3% in 2029 was proposed.
To achieve this, “we have the option between the effort now, controlled or the austerity suffered. I prefer the dominated effort. (…) I think it is now vital,” he said Thursday in BFMTV. And for a good reason: “We have the most important deficit in the euro zone, the third public debt. It begins to increase again, while everywhere in Europe it decreases,” he said.
“There are money deposits everywhere”
This situation raises a problem of “credibility and sustainability,” Pierre Moscovici continued, adding that public spending “represents 56.5% of GDP (…), there are 8 points more than in the euro zone.”
For the president of the Court of Auditors, “there are savings savings everywhere: in the state that has already begun, social security, in local authorities …”.
“What we show is that the expense that increases is social spending and local spending. I am not asking at all a austerity plan, but we have the option between the efforts now significant but reasonable, dominated and volunteers or subject to a cure of austerity,” Pierre Moscowi. But “the effort must be shared,” he concluded.
Source: BFM TV
