PARIS: France’s new Prime Minister Sébastien Lecornu has reversed his predecessor’s controversial plan to abolish two public holidays.
Lecornu stated that he wants to spare working people by maintaining the existing public holiday schedule while seeking alternative financial solutions.
The government will begin consultations next week on decentralising administration and streamlining government agencies through mergers or abolitions.
Lecornu also proposed revoking lifetime privileges for former Cabinet members as part of broader reform efforts.
France currently faces significant economic challenges with a 114% debt-to-GDP ratio, the third highest in the European Union.
The country’s budget deficit reached 5.8% recently, nearly double the EU’s 3% limit, while national debt stands at approximately €3.3 trillion.
Fitch Ratings downgraded France’s credit rating on Friday, citing high public debt and limited reform prospects due to political instability.
Lecornu acknowledged that France is paying for its political instability, having seen three different governments since mid-2024.
The prime minister warned that higher borrowing costs would directly impact state finances and affect both citizens and businesses.
Lecornu was appointed after former prime minister François Bayrou lost a parliamentary confidence vote following less than nine months in office. – Bernama-dpa