The last budget of this executive is adopted Wednesday, December 15. The initial promises of financial recovery have been swept away by the pandemic.
Wednesday evening, on TF1 and LCI, Emmanuel Macron, who has not yet declared himself a candidate for the presidential election, should draw up a flattering first assessment of his five-year term, despite the context of the resumption of the coronavirus epidemic. On the economic side, the president will have a good time promoting the spectacular French rebound. After the violent crisis which hit activity hard last year with a drop in gross domestic product (GDP) of 8%, the country is experiencing an unprecedented recovery in Europe, which relies on a very dynamic. As for the promises of tax reductions for households and businesses of 50 billion euros between 2017 and 2022, they are being kept, as his Minister of the Economy, Bruno Le Maire repeats over and over again.
However, this panorama hides a more complicated reality: today’s economic picture is taking shape at the cost of unprecedented over-indebtedness – with a debt that should still exceed 110% of GDP next year …