Le Pen Proposes Deficit Cuts and ECB Intervention Ahead of French Election

Far-right French presidential candidate Marine Le Pen has unveiled plans to slash the country's budget deficit, aiming to reassure investors ahead of next year's election. The leader of the National Rally proposed reducing the deficit to 3.7% of economic output in 2027, a significant cut from the government's current target of 5%. Le Pen's long-term goal is to further decrease the deficit to 2.2% by 2032, pending her party's victory in the upcoming election.

In addition to deficit reduction, Le Pen has called on the European Central Bank (ECB) to intervene in order to lower the rising costs of debt. This dual approach is part of her strategy to demonstrate her financial credibility to investors and the public. The announcement comes as concerns over France's fiscal health continue to grow, making deficit reduction a key issue in the political landscape.