January 28, 2023

After the 400 billion promised to the Armies, Macron’s high-risk budget equation


Posted Jan 23, 2023, 6:30 AMUpdated on Jan 23, 2023 at 7:26 am

Emmanuel Macron’s second five-year term is supposed to be that of a return to budgetary normality, after the extraordinary years caused by the Covid. But the chapter of “whatever the cost” is decidedly difficult to close: by announcing this Friday a gargantuan new envelope for the Armies for the next seven years, the Head of State makes it a little more difficult to objective that it has set itself of bringing the public deficit back below the 3% mark by 2027.

The new military programming law (LPM) – which must be detailed in the spring – will therefore benefit from 400 billion credits over the period 2024-2030, when the previous one unveiled in 2018 had put on the table 295 billion for the years 2019-2025 . This represents a jump of 30%, a massive effort in a period when the executive has on the contrary promised to contain the growth of public spending to levels never reached under the Ve Republic.

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