Once appointed, French Prime Minister Michel Barnier's new finance minister must lose no time coming up with a 2025 budget that could make or break the incoming government.

The French government, which missed a deadline this week to set a blueprint to lower its debt and deficit, is struggling to meet fiscal requirements set by the E.U.

France was placed on a formal procedure for violating European Union budgetary rules before Barnier was picked as head of government this month by President Emmanuel Macron

Colombia's government will not modify the value of 523 trillion pesos ($123.9 billion) for its proposed 2025 budget, Finance Minister Ricardo Bonilla said in an interview on Tuesday. Furthermore, if Congress does not approve a proposed fiscal reform,