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Bank of France Governor Francois Villeroy de Galhau has urged the French government to implement significant budget cuts to address the serious issues plaguing the country's public finances, which have led to the largest deficit in the euro zone this year. With rising debt and uncertainty following political turmoil, Villeroy emphasized the importance of reducing budgetary uncertainty to restore economic confidence and ensure sustainable growth. He advises aiming for a deficit between 5% and 5.5% of economic output for 2025, highlighting potential risks to economic growth while maintaining a cautious outlook.
Source: YAHOO