With the escalation of disturbances, Fitch reduces the credit rating of France

Fitch has reduced its credit rating to France to “A+” with a stable future look, against the background of the continuous political strike in the country and the lack of certainty surrounding its budget, which impedes reducing the deficit in the deteriorating public finances.

The credit rating agency considered that “the fall of the government in a vote on confidence shows the growing disintegration and polarization in domestic politics.” She added that “this instability weakens the ability of the political system to achieve a large financial austerity,” considering that it is unlikely to reduce the general deficit to below 3% of the GDP by 2029, a goal that the previous government has set, according to Agence France -Presse. “Fitch”, the credit rating of France, days after the fall of the Francois Bayro government and the appointment of Sebastian Lukorno as the new prime minister, which is the third in one year.