It would be better if French budget deficit did not exceed 4.8% in 2026, Villeroy says

France must reduce its rising debt and it would be better for the euro zone's second largest economy if its public deficit did not exceed 4.8% of gross domestic product in 2026, Bank of France head Francois Villeroy de Galhau said on Frday.

The European Central Bank member was speaking on RTL radio.

Outgoing French Prime Minister Sebastien Lecornu said late last month he aimed for a budget deficit of around 4.7% of GDP in 2026, down from a forecast 5.4% this year.