(Bloomberg) -- The French National Assembly unanimously adopted a stopgap budget bill intended to enable the state to keep functioning from January.
Lawmakers were expected to back the bill, which will allow the state to keep raising taxes and borrow money despite the lack of a full budget package for next year.
The emergency legislation was needed after the government of Prime Minister Michel Barnier was ousted in a no-confidence vote backed by far-right leader Marine Le Pen and the left over parts of the 2025 budget package. The text is set to be reviewed by the Senate on Wednesday before definitive adoption.
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The new prime minister, veteran centrist Francois Bayrou, was appointed Friday. He is consulting with French political forces to form a government. To adopt a proper 2025 budget, Bayrou will face the same financial and political challenges that brought down the previous government.
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