PARIS (Reuters) – The economic consequences of the conflict between Israel and Hamas, which launched a surprise offensive on the Jewish state on Saturday, should be limited if tensions do not cause a regional conflagration, the French Minister of Defense said on Monday. ‘Economy, Bruno Le Maire.
“I think that the consequences of the conflict should be limited on the economic level if there is no regional conflagration,” he declared on Sud Radio.
The conflict between Israel and Palestinian militants caused a 3% jump in oil prices on Monday and weighed on European stock markets.
For Bruno Le Maire, these tensions once again show the need for the country “to be totally independent in energy matters”.
The minister, who is also in charge of public finances, also insisted on the importance of reducing the debt to face a new crisis, like the conflict in the Middle East.
The government last month presented a budget for 2024 forecasting more than 16 billion euros in savings next year. The finance bill will be examined from Tuesday in the Finance Committee of the National Assembly.
“I will support all parliamentarians from the majority who wish to make savings to propose them,” declared Bruno Le Maire on Monday.
“I propose that we set ourselves with the general budget rapporteur, with the majority deputies, a target of one billion euros in additional savings at the end of the parliamentary debate.”
(Written by Blandine Hénault, edited by Kate Entringer)
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