6 hours ago

France’s Parliament unanimously rejected the budget for 2027

Gabriel Dumitrache

5 November 2026, 13:02

International

Foto: Shutterstock

Always see our news on Google

The National Assembly of France rejected on Wednesday evening the state budget bill for 2027, proposed by the Government led by Prime Minister Sébastien Lecornu. The decision complicates the executive's plan to adopt, by the end of the year, austerity measures worth 43 billion euros and reduce the budget deficit to 5% next year.

The first part of the bill, concerning tax revenues, was rejected by 458 votes against. The text had been amended through several amendments, and the resulting form was not accepted by the majority of parliamentarians. The bill is to be transmitted to the Senate, where debate is scheduled for November 20.

Finance Minister David Amiel warned that the amendments adopted in Parliament would have raised the deficit to 5.9%. The Government is under pressure to put its public finances in order, amid economic stagnation, accumulating debts, and the risk of a financial crisis.

Lecornu does not have a majority in the National Assembly, and the rejection was anticipated. It is the third budget proposal rejected by the legislature. The executive could resort to Article 49, paragraph 3 of the Constitution to adopt the law without a final vote, but it would risk a motion of no confidence. Another option would be to adopt the budget by decree, a procedure that has not previously been used by a French government. The presidential elections are scheduled for April 2027.

Context: France had already revised its economic forecast downward, while social tensions and financial pressure were deepening

Before the parliamentary vote on the budget, the government in Paris announced that France’s economy was expected to grow by just 0.5% in 2026 and that the target of a budget deficit of 5% of GDP could no longer be achieved. The Finance Minister attributed the revision to domestic political uncertainties, rising energy prices, extreme weather conditions during the summer, and higher borrowing costs, while nevertheless maintaining the growth forecast for the following year.

At the same time, France was facing widespread protests and increasingly visible budgetary pressure: public debt had reached approximately 3,500 billion euros, while the yield on 10-year French bonds had risen to 5.14% (the highest level since 2002). The government was also rejecting requests to change the presidential election schedule, citing the risk of further acts of violence following previous protests and arguing that the election must take place on the scheduled dates.