EU criticizes France for excessive debt during Macron's election campaign

The EU Commission criticized France for excessive debt amid an election campaign where Macron faces challenges from the extreme right and left. Seven nations, including France, were recommended to start an "excessive deficit procedure." France's annual deficit was 5.5% last year, with leniency due to exceptional circumstances like COVID-19 and the war in Ukraine. Despite criticism, France is addressing imbalances, with the IMF forecasting sluggish economic growth. Excessive austerity is not seen as the solution, and lenient budget conditions have not prevented the rise of the extreme right in many member states.