A public finance strategy for the exit from the crisis

Last February, the Prime Minister entrusted the Court with a mission on the post-crisis public finance strategy. The Court responds to this referral by publishing this report. Regardless of the prospects for growth in the aftermath of the crisis, the health crisis will leave lasting marks on the French economy and public finances. In this context, the sustainability of public debt is a matter of sovereignty: This is a necessary condition to cope with future economic shocks and to remain in a position to finance policies and the functioning of public administrations. To ensure this sustainability, the Court proposes a strategy based on two pillars: Strengthening potential growth and containing public expenditure. This effort will need to be accompanied by a revamped public finance governance framework, an improvement in the quality of public spending in five priority sectors and the strengthening of fairness and efficiency of policies and public administrations. To this end, the Court makes 27 recommendations.