Group 1 - The French government officially announced the 2026 national budget, concluding a four-month parliamentary debate, which is expected to lead to a relatively stable governance period under Prime Minister Le Maire [1] - The target for the public finance deficit rate for 2026 is set at around 5%, higher than the initial target of 4.7% but lower than the 5.4% projected for 2025 [1] - Public spending cuts remain the main focus of the budget, while defense spending will increase by €6.5 billion [1] Group 2 - The budget negotiations caused disturbances in the French bond market, raising investor concerns about the fiscal outlook [2] - As of the end of Q3 2025, France's total public debt reached €3,482.2 billion, accounting for 117.4% of GDP [2] - Analysts indicate that France faces significant consolidation pressure amid the EU's tightening fiscal discipline, with the current deficit and debt levels well above the EU's standards [2]

Core Viewpoint - The French government has officially announced the 2026 national budget, indicating a potential period of relative stability under Prime Minister Le Maire's leadership following extensive parliamentary debates [1] Budget Overview - The public finance deficit rate for France in 2026 is targeted to be around 5%, which is higher than the initial goal of 4.7% but lower than the 5.4% projected for 2025 [1] - The main focus of this budget is on reducing public spending, although defense spending will see an increase of €6.5 billion [1] Taxation and Business Impact - The government aims to maintain overall stability in the current tax system framework, but the inclusion of several additional tax measures compared to the initial proposal may lead to dissatisfaction among the business community [1]

Group 1 - The French National Assembly voted on two motions of no confidence against the government, both of which were not passed, allowing the government to proceed without issues [1] - Prime Minister Sébastien Lecornu invoked Article 49.3 of the Constitution to advance the 2026 national budget without a parliamentary vote, prompting opposition parties to propose the no-confidence motions [1] - The two motions were proposed by the radical left party La France Insoumise and the far-right National Rally, but neither received sufficient support [1]

Core Viewpoint - The Argentine Congress approved the 2026 national budget, marking the first budget passed since President Milei took office at the end of 2023 [1] Group 1: Budget Approval - The budget was approved with a vote of 46 in favor, 25 against, and 1 abstention [1] - The total projected expenditure is $101.8 billion, equivalent to 148 trillion Argentine pesos [1] Group 2: Economic Projections - The budget sets a GDP growth target of 5% [1] - An annual inflation rate expectation of 10.1% is established [1] - The plan includes a primary fiscal surplus equivalent to 1.2% of GDP [1]

Group 1 - The Argentine Congress approved the 2026 national budget, marking the first budget passed since President Milei took office at the end of 2023 [1] - The budget was approved with a vote of 46 in favor, 25 against, and 1 abstention [1] - The budget anticipates expenditures of $101.8 billion, equivalent to 148 trillion Argentine pesos, and sets a GDP growth target of 5% with an inflation rate expectation of 10.1% [1] - The budget also plans for a primary fiscal surplus equivalent to 1.2% of GDP [1]

Core Viewpoint - The Bosnian Presidency has approved the draft budget for national institutions for 2025, which will be submitted to the House of Representatives for review. This budget has not been modified from its original version and received unanimous approval from the Presidency members [1] Group 1: Budget Overview - The total budget for 2025 is set at 1.5 billion marks [1] - The new budget includes a one-time allowance of 1,000 marks for national institution employees, which was not present in the previous version [1] Group 2: Legislative Process - The budget draft will be reviewed by the House of Representatives after its approval by the Presidency [1] - The previous budget draft was rejected due to lack of majority support from the Republika Srpska representatives, primarily due to contentious funding arrangements for national cultural institutions and the Bosnian Radio and Television [1] - The contentious clauses have been removed in the current budget draft, facilitating its approval [1]