France's credit rating has been reaffirmed by S&P Global Ratings, which is seen as a positive development for Prime Minister Michel Barnier. The agency highlighted the stability of the country's economy, attributing it to factors such as labor market reforms initiated by President Emmanuel Macron.
S&P also mentioned high private sector savings rates, strong export performance, and the benefits of EU membership as supporting France's economic outlook.
This endorsement comes at a crucial time for Barnier as he faces political pressures while working to secure his position and advance his fiscal agenda.