The Fitch agency downgraded France's credit rating on Friday, as President Emmanuel Macron struggles with political instability and disagreements on how to put the country's strained public finances in order.
Breakdown
- Fitch downgraded France's credit rating from AA- to A+. 4s
- The downgrade is attributed to continued political instability and government fragmentation. 11s
- France's deficit is expected to stay above 5%, with debt rising to 121% of GDP by 2027. 35s
- The downgrade will likely increase France's debt burden through higher interest payments. 52s
- Political divisions are expected to make reaching a budget consensus difficult. 1m 22s