French Budget Minister Emmanuelle Wargon stated that France must take charge of its financial affairs to avoid the risk of being placed under the oversight of the International Monetary Fund (IMF) or European institutions.

Speaking on RTL radio, Wargon emphasized the urgent need for the country to regain control over its budget, warning that failure to do so could lead to decisions being made by external entities on its behalf.

When asked if France was at risk of facing IMF supervision, Wargon responded affirmatively, acknowledging the threat posed by international organizations, European institutions, and creditors.

This statement comes as Prime Minister François Bayrou is set to announce proposals in July aimed at tightening public finances, with a goal of reducing the budget by €40 billion (approximately $45.62 billion) by 2026.

France has a historical pattern of breaching European Union fiscal rules regarding excessive spending, and it currently maintains the largest public sector deficit in the Eurozone, projected at around 5.4% of its GDP for the current year.

The focus on fiscal discipline reflects broader concerns within the Eurozone regarding sustainable public finances and adherence to EU budgetary regulations.