French prime minister pushes on as 2025 public deficit beats forecasts

French Prime Minister Sébastien Lecornu (R) speaks with Finance Minister Roland Lescure at the Assemblée Nationale in Paris, March 24, 2026. JULIEN MUGUET FOR LE MONDE

The staging was unprecedented. On the morning of Friday, March 27, French Prime Minister Sébastien Lecornu traveled to Bercy, the fortress-like headquarters of the Finance Ministry, to personally chair a meeting on the budget. It was an opportunity to celebrate the lower-than-expected public deficit for 2025: 5.1% of gross domestic product (GDP). "The method is working," Lecornu said with satisfaction. Above all, it was a chance to rally and "put a bit of pressure" on his ministers, according to a person close to the prime minister. Lecornu now believes it is possible not only to bring the deficit down to 5% of GDP in 2026, but even to "drop below 5%" as soon as this year.

When he became prime minister in September 2025, Lecornu set himself the single goal of having the 2026 budget adopted before the year's end. The budget was only enacted in mid-February, after a particularly difficult parliamentary process. With the municipal elections now past, the budget is back at the top of the agenda. The prime minister now faces a double challenge: ensuring the 2026 budget is met and preparing for the daunting 2027 budget.