François Bayrou can be relieved. He, if concerned for years by the magnitude of the French debt, will not be the Prime Minister of a France broken down among the “Simple A” states, those whose financial signature is deemed average. At least not immediately. Despite the deterioration of public finances and the difficulty of France to straighten the CAP, the American company Fitch decided, on Friday, March 14, to maintain aa – the note granted to the tricolor public debt, the equivalent of a 17 out of 20. France therefore keeps its “double a” at Fitch as at S&P and Moody’s, the two major world rating agencies.
The Ministry of the Economy immediately took note of this good news, promising ” pursue “ the recovery of accounts. “The absorption of our deficits is a priority”, says Bercy.
The cleaver did not go far. In October 2024, Fitch had confirmed the note Aa−, while matching it with a negative perspective. It thus opened the door to a possible degradation if the growth prospects darken clearly, if the competitiveness was weakened or if the government proved to be incapable of “Implement a credible budgetary sanitation plan in the medium term”.
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