France Targets Fiscal Stability Amid Moody's Negative Outlook

French Finance Minister Antoine Armand emphasizes France's commitment to reducing its public deficit, aiming for a 5% target by 2025. This response comes after Moody's revised France's credit outlook to 'negative', highlighting concerns over the country's expanding budget deficits.

In the wake of Moody's recent adjustment of France's credit outlook to 'negative', French Finance Minister Antoine Armand reiterated the country's commitment to fiscal discipline.

Addressing reporters at the annual meetings of the International Monetary Fund and World Bank, Armand underscored that France's primary fiscal goal is to reduce its public deficit to a 5% target by 2025. Armand assured that France proactively addressed fiscal challenges, without waiting for external credit rating agencies to prompt action.

Moody's decision reflects growing concerns about France's ability to manage its widening budgetary shortfall. Despite the negative outlook, Armand conveyed confidence in the measures taken to control the nation's debt.

(With inputs from agencies.)