PARIS, July 17 (Reuters) - The French government expects to spend 4.2 billion euros ($4.71 billion) less in 2024 as it scales back massive consumer subsidies on fuel and electricity, according to first budget estimates sent to parliamentarians.
"For the first time in almost a decade, spending will decrease when compared to the previous year: 4.2 billion euros down", Budget Minister Gabriel Attal told paper Les Echos on Sunday.
"We are ending the exceptional crisis spending and are making savings, to finance the green transition," Attal said.
Finance Minister Bruno Le Maire has asked each ministry to identify cutbacks worth 5% of their budget.
A finance ministry source said on Sunday that France's debt reduction would be achieved through various means, including savings in employment and housing policies.
Persons:
Gabriel Attal, Emmanuel Macron's, Attal, Fitch, Bruno Le Maire, Tassilo Hummel, Bertrand Boucey, Angus MacSwan
Organizations:
Finance, Thomson
Locations:
France