Politics · France · 5 hrs ago
France must spend better while reducing its deficits, columnist argues
A Le Monde columnist argues that France must spend better to support purchasing power.
The country has long failed to use stronger growth to reduce its deficits and public debt.
Now higher interest rates are increasing debt costs and leaving the government with less room to act.
France's economy has been stalled for three quarters, and the columnist says the next quarter may be worse amid social tensions.
Weak growth can deepen the financial strain by reducing tax revenue, worsening deficits and discouraging investment.
The columnist says efforts to balance the books should protect spending that helps create future prosperity.
He also says wealth creation is missing from the debate ahead of France's presidential election.
France must reduce its deficits, but should preserve spending that supports future prosperity, Le Monde columnist Stéphane Lauer argues.
He says the debate ahead of the presidential election has largely overlooked how to create wealth.
France missed opportunities to reduce deficits and debt during periods of strong growth, the column says.
The economy has been stagnant for three quarters, and the fourth is expected to be worse amid social crisis.
Lauer warns that weak growth can further worsen deficits, raise borrowing costs and discourage investment.
- Who
- Stéphane Lauer, a Le Monde columnist.
- What
- He argues France needs to reduce deficits while preserving spending that supports future prosperity.
- When
- The column was published on 9 November 2026.
- Where
- France.
- Why
- Rising interest rates and debt are reducing the room for manoeuvre, while economic stagnation threatens to make restoring public finances harder.
This story does not have two clearly opposing sides.
France did not use the opportunity to reduce its deficits and ease its debt burden, the column says.
The French economy has been stagnant, according to the column.
Le Monde published Lauer's column, which said the fourth quarter was expected to be worse.
- Columnist
- Stéphane Lauer
- Outlet
- Le Monde
- Publication date
- 9 November 2026
- Economic stagnation
- Three quarters
- Fourth quarter outlook
- Expected to be worse
What people are saying
Reducing deficits is essential. Yet spending that prepares tomorrow's prosperity must be preserved.