France to Cut Unemployment Benefits to 15 Months Amid Debt Pressure

May 26, 2024, 06:09 AM

France has announced plans to reduce jobless benefits as a result of increasing debt pressure. Prime Minister Gabriel Attal unveiled the plan to cut French unemployment benefits in an effort to advance President Emmanuel Macron’s economic reforms. The decision comes after a warning from the International Monetary Fund (IMF) about the country’s high debt burden. The new measures will limit unemployment benefits to a maximum of 15 months, down from 18 months, and require individuals to have worked eight months during the last 20 months, instead of six months. The announcement was reported by Reuters on May 25.