The suspension of the pension reform promised by French Prime Minister Sébastien Lecourny will have “significant fiscal consequences”, European Economic Commissioner Valdis Dobrovskis estimated from Washington today, who expects Paris to take “measures to meet its fiscal commitments”.

“We are watching carefully” the debate on the budget and especially “the suspension of the implementation of the pension reform, because this will have significant fiscal consequences,” Dombrovskis said in an interview with AFP. “It is important that steps are taken” so that France meets its deficit reduction commitments, he added.

The Commission is waiting for “concrete proposals” to be able to proceed with a normal assessment regarding the reduction of the deficit to 3% in the medium term, the Commissioner noted.

However, Dombrovskis appeared optimistic as he believes that the budget in France seems likely to be approved, albeit with a delay. “But we need to see concrete proposals and know all the fiscal implications,” he insisted.

The Commissioner is in Washington for the annual meetings of the International Monetary Fund and the World Bank, which conclude at the end of the week. It also participates in the G20 and G7 meetings. On this occasion, he discusses with his counterparts the issue of the war in Ukraine and the ways to intensify the economic pressure on Russia, while helping Kiev to prepare for the post-war era.

“We are preparing a compensation law at the European level, which will allow us to use the proceeds from the frozen Russian funds. We encourage our allies to see what they can do on their side with the (Russian) funds that are on their soil,” he commented, explaining that Britain and Canada have already indicated that they intend to work with the EU. “We are now waiting for a concrete response from the US and Japan,” he clarified.