France flags 2027 budget squeeze as defense and debt costs surge

PARIS: France’s government plans to sharply restrain most public spending growth in 2027 as rising defense outlays and borrowing costs consume an increasing share of the budget, spending ceilings published on Thursday showed. The ceilings set the stage for a potentially rocky parliamentary budget battle from October, as the government seeks to keep the deficit under ‌control ahead ‌of a 2027 presidential election that polls ‌suggest ⁠could favor the ⁠far right.

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