The state auditor of France has expressed concerns about the credibility of current plans aimed at repairing the country’s “worrying” public finances. This warning comes amidst political negotiations following snap elections, where various groups advocating expansive tax and spending policies vie to form a new government.

President Emmanuel Macron’s outgoing administration had announced in April its intentions to implement new measures aimed at cutting spending and increasing revenues. These efforts are part of a strategy to bring the budget deficit back in line, targeting a deficit of within 3% of economic output by 2027.

Pierre Moscovici, speaking on France Inter radio, emphasized the necessity for France’s next government, emerging from current political stalemate post-snap elections, to prioritize bringing public finances back into balance.

He highlighted the current annual debt repayment of 52 billion euros, projected to rise to 80 billion euros by 2027, leaving no room for additional expenditure on education, justice, security, and ecological transition. The Cour des Comptes, France’s national audit office, was scheduled to release its latest report on Monday.