Seven countries, including France and Italy, were condemned by the European Union for their high deficits.

　　On June 19th, local time, relevant EU agencies announced that the European Commission had initiated excessive deficit procedures for seven countries, namely France, Italy, Belgium, Poland, Hungary, Slovakia and Malta, because these countries had excessive new debts and high deficits.

　　According to the report released by Standard & Poor’s, an international credit rating agency, on May 31st, it is estimated that from 2024 to 2026, the budget deficit in France will account for 4.6% of GDP on average, higher than the previous forecast of 3.9%. By 2027, the French budget deficit will still reach 3.5% of GDP, which is higher than the French government’s target of 2.9%. (General Desk reporter Kang Yubin)