Today, Thibault Marotte, from the Economy department of L’Express, explains to us what the 3% deficit rule corresponds to.
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The team: Charlotte Baris (presentation and writing), Léa Bertrand (editing), and Jules Krot (production).
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Charlotte Baris: 3%. This is the objective that the government has set for France’s deficit within 3 years. But then why? To answer this, I welcome Thibault Marotte, journalist in the Economy department of L’Express. A deficit of 3% of GDP, why is the government setting this precise objective?
Thibault Marotte: In fact it is a European rule, resulting from the Treaty of Maastricht in 1992. The idea of the text, at the time of the establishment of the euro, was to have criteria for the convergence of European economies, then very diverse. And a country with economic problems should not put all the others at risk. So to have a form of balance, we set frameworks for inflation, interest rates, debt and therefore the deficit. It’s a bit of a way of monitoring each other.
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