Ratings agency S&P on Friday downgraded France's credit score for the first time since 2013, citing a deterioration in the country's budgetary position.
S&P justified its decision to lower its rating for the EU's second-largest economy to "AA-" from "AA" by saying the budget deficit was forecast to remain above three percent of GDP in 2027.
French Economy Minister Bruno Le Maire on Friday reaffirmed the government's goal of slashing the public deficit to below three percent of GDP in 2027 after ratings agency S&P downgraded the country's credit score.
"Our strategy remains the same: reindustrialise, reach full employment and stick to our path to come below the three-percent deficit in 2027," he told French daily Le Parisien.
(FRANCE 24 with AFP)
