{"id":64616,"date":"2025-10-19T17:52:00","date_gmt":"2025-10-19T14:52:00","guid":{"rendered":"https:\/\/economic.karpat.in.ua\/?p=64616"},"modified":"2025-10-19T15:49:01","modified_gmt":"2025-10-19T12:49:01","slug":"leminositette-franciaorszagot-az-sp-intezkedesek-hianyaban-tovabb-nohet-az-allamadossag","status":"publish","type":"post","link":"https:\/\/economic.karpat.in.ua\/?p=64616&lang=hu","title":{"rendered":"Lemin\u0151s\u00edtette Franciaorsz\u00e1got az S&amp;P, int\u00e9zked\u00e9sek hi\u00e1ny\u00e1ban tov\u00e1bb n\u0151het az \u00e1llamad\u00f3ss\u00e1g"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"978\" height=\"487\" src=\"https:\/\/economic.karpat.in.ua\/wp-content\/uploads\/2025\/10\/sp.png\" alt=\"\" class=\"wp-image-64617\" srcset=\"https:\/\/economic.karpat.in.ua\/wp-content\/uploads\/2025\/10\/sp.png 978w, https:\/\/economic.karpat.in.ua\/wp-content\/uploads\/2025\/10\/sp-300x149.png 300w, https:\/\/economic.karpat.in.ua\/wp-content\/uploads\/2025\/10\/sp-768x382.png 768w\" sizes=\"auto, (max-width: 978px) 100vw, 978px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Lemin\u0151s\u00edtette Franciaorsz\u00e1got az S&amp;P Global Ratings, mindenekel\u0151tt azzal a v\u00e9lem\u00e9ny\u00e9vel indokolva a d\u00f6nt\u00e9st, hogy a k\u00f6lts\u00e9gvet\u00e9si hi\u00e1ny tov\u00e1bbi jelent\u0151s cs\u00f6kkent\u00e9s\u00e9t c\u00e9lz\u00f3 int\u00e9zked\u00e9sek hi\u00e1nya miatt a k\u00f6vetkez\u0151 \u00e9vekben tov\u00e1bb romlanak a francia \u00e1llamad\u00f3ss\u00e1gfolyamatok. <\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A d\u00f6nt\u00e9ssel az eddigi \u201eAA m\u00ednusz\/A-1 plusz\u201d-r\u00f3l egy fokozattal \u201eA plusz\/A1\u201d-re rontott\u00e1k Franciaorsz\u00e1g hossz\u00fa \u00e9s r\u00f6vid futam\u00fa szuver\u00e9n k\u00fcls\u0151 \u00e9s hazai ad\u00f3ss\u00e1g-k\u00f6telezetts\u00e9geinek besorol\u00e1s\u00e1t, amit nagyr\u00e9szt az orsz\u00e1gban uralkod\u00f3 s\u00falyos politikai bizonytalans\u00e1ggal indokoltak.<br>A nemzetk\u00f6zi hitelmin\u0151s\u00edt\u0151 p\u00e9ntek \u00e9jjel Londonban bejelentette, hogy az eddigi \u201eAA m\u00ednusz\/A-1 plusz\u201d-r\u00f3l egy fokozattal \u201eA plusz\/A1\u201d-re rontotta Franciaorsz\u00e1g hossz\u00fa \u00e9s r\u00f6vid futam\u00fa szuver\u00e9n k\u00fcls\u0151 \u00e9s hazai ad\u00f3ss\u00e1g-k\u00f6telezetts\u00e9geinek besorol\u00e1s\u00e1t.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Az \u00faj \u2013 tov\u00e1bbra is els\u0151rend\u0171 \u2013 oszt\u00e1lyzat kil\u00e1t\u00e1sa stabil.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Az S&amp;P a lemin\u0151s\u00edt\u00e9s indokl\u00e1s\u00e1ban kiemelte azt a v\u00e1rakoz\u00e1s\u00e1t, hogy a hazai \u00f6sszterm\u00e9khez (GDP) m\u00e9rt francia \u00e1llamad\u00f3ss\u00e1g-r\u00e1ta 2028 v\u00e9g\u00e9ig 121 sz\u00e1zal\u00e9kra emelkedik a tavaly m\u00e9rt 112 sz\u00e1zal\u00e9kr\u00f3l.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A hitelmin\u0151s\u00edt\u0151 szerint a k\u00f6lts\u00e9gvet\u00e9s kiad\u00e1si oldal\u00e1n tapasztalhat\u00f3 fegyelem \u00e9s az er\u0151teljes bev\u00e9telek hat\u00e1s\u00e1ra a korm\u00e1ny v\u00e1rhat\u00f3an tartani tudja az idei \u00e9vre kit\u0171z\u00f6tt 5,4 sz\u00e1zal\u00e9kos GDP-ar\u00e1nyos k\u00f6lts\u00e9gvet\u00e9si hi\u00e1nyc\u00e9lt. Az S&amp;P hangs\u00falyozza ugyanakkor azt a v\u00e1rakoz\u00e1s\u00e1t is, hogy a 2026-ra sz\u00f3l\u00f3 k\u00f6lts\u00e9gvet\u00e9si tervezet val\u00f3sz\u00edn\u0171s\u00edthet\u0151 m\u00f3dos\u00edt\u00e1sai miatt a deficit a k\u00f6vetkez\u0151 h\u00e1rom \u00e9vben is magas marad.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A c\u00e9g szerint Franciaorsz\u00e1gban az \u00d6t\u00f6dik K\u00f6zt\u00e1rsas\u00e1g 1958-as megalap\u00edt\u00e1sa \u00f3ta nem volt olyan s\u00falyos politikai bizonytalans\u00e1g, mint most. Az S&amp;P ennek illusztr\u00e1l\u00e1s\u00e1ra felid\u00e9zi, hogy Emmanuel Macron eln\u00f6k 2022 m\u00e1jusa \u00f3ta k\u00e9t olyan parlamenttel volt k\u00e9nytelen egy\u00fcttm\u0171k\u00f6dni, amelyben egyik p\u00e1rtnak sincs abszol\u00fat t\u00f6bbs\u00e9ge, \u00e9s az orsz\u00e1gnak h\u00e1rom \u00e9v alatt hat minisztereln\u00f6ke volt.<br>Ez p\u00e9ld\u00e1tlan, hiszen a francia t\u00f6rv\u00e9nyhoz\u00e1si v\u00e1laszt\u00e1si rendszert \u00e9ppen \u00fagy tervezt\u00e9k, hogy nagy, stabil t\u00f6bbs\u00e9gek kialakul\u00e1s\u00e1nak kedvezzen, kiiktatva a kis p\u00e1rtokat az els\u0151 szavaz\u00e1si fordul\u00f3ban \u00e9s strat\u00e9giai szavaz\u00e1sra \u00f6szt\u00f6n\u00f6zve a v\u00e1laszt\u00f3kat a m\u00e1sodikban \u2013 \u00e1ll az S&amp;P Global elemz\u00e9s\u00e9ben.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A hitelmin\u0151s\u00edt\u0151 szerint r\u00e1ad\u00e1sul a mostani helyzetben m\u00e9g egy egy\u00e9rtelm\u0171 nemzetgy\u0171l\u00e9si t\u00f6bbs\u00e9g kialakul\u00e1sa eset\u00e9n sem lenne garancia arra, hogy siker\u00fcl kijel\u00f6lni a hiteles k\u00f6z\u00e9pt\u00e1v\u00fa k\u00f6lts\u00e9gvet\u00e9si konszolid\u00e1ci\u00f3 vagy a gazdas\u00e1gi reformok fel\u00e9 vezet\u0151 utat. A 2027-es eln\u00f6kv\u00e1laszt\u00e1s k\u00f6zels\u00e9ge ugyanis k\u00e9ts\u00e9gess\u00e9 teszi b\u00e1rmif\u00e9le ilyen strat\u00e9gia k\u00f6vetkezetes v\u00e9grehajt\u00e1s\u00e1t, vagy azt, hogy Franciaorsz\u00e1g re\u00e1lisan teljes\u00edteni tudja a 2029-re kit\u0171z\u00f6tt 3 sz\u00e1zal\u00e9kos GDP-ar\u00e1nyos deficitc\u00e9lt \u2013 \u00e1ll az S&amp;P elemz\u00e9s\u00e9ben.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Franciaorsz\u00e1got a m\u00falt h\u00f3napban egy m\u00e1sik hitelmin\u0151s\u00edt\u0151,&nbsp;<a href=\"https:\/\/hirado.hu\/kulfold\/cikk\/2025\/09\/13\/leminositette-franciaorszagot-a-fitch-veget-kell-vetni-a-szocializmusnak\/\" target=\"_blank\" rel=\"noreferrer noopener\">a Fitch Ratings is lemin\u0151s\u00edtette<\/a>, az addigi \u201eAA m\u00ednusz\u201d-r\u00f3l egy fokozattal \u201eA plusz\u201d-ra rontva a hossz\u00fa futam\u00fa francia szuver\u00e9n k\u00fclad\u00f3ss\u00e1g-k\u00f6telezetts\u00e9gek besorol\u00e1s\u00e1t. A Fitch szint\u00e9n azzal a v\u00e9lem\u00e9ny\u00e9vel indokolta a d\u00f6nt\u00e9st, hogy a magas deficitek miatt tov\u00e1bb romlanak a francia \u00e1llamad\u00f3ss\u00e1g-folyamatok.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A Fitch Ratings jelenlegi el\u0151rejelz\u00e9se azt val\u00f3sz\u00edn\u0171s\u00edti, hogy a hazai \u00f6sszterm\u00e9khez m\u00e9rt francia \u00e1llamad\u00f3ss\u00e1gr\u00e1ta 2027-ben 121 sz\u00e1zal\u00e9kra emelkedik, \u00e9s a c\u00e9g szerint a k\u00e9s\u0151bbi \u00e9vekre sem l\u00e1tszik egy\u00e9rtelm\u0171 es\u00e9ly az ad\u00f3ss\u00e1gfolyamatok stabiliz\u00e1l\u00f3d\u00e1s\u00e1ra.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/hirado.hu\/kulfold\/kulgazdasag\/cikk\/2025\/10\/18\/leminositette-franciaorszagot-az-sp\" target=\"_blank\" rel=\"noreferrer noopener\">Forr\u00e1s<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lemin\u0151s\u00edtette Franciaorsz\u00e1got az S&#038;P Global Ratings, mindenekel\u0151tt azzal a v\u00e9lem\u00e9ny\u00e9vel indokolva a d\u00f6nt\u00e9st, hogy a k\u00f6lts\u00e9gvet\u00e9si hi\u00e1ny tov\u00e1bbi jelent\u0151s cs\u00f6kkent\u00e9s\u00e9t c\u00e9lz\u00f3 int\u00e9zked\u00e9sek hi\u00e1nya miatt a k\u00f6vetkez\u0151 \u00e9vekben tov\u00e1bb romlanak a francia \u00e1llamad\u00f3ss\u00e1gfolyamatok. <\/p>\n","protected":false},"author":4,"featured_media":64617,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15,41,49,39],"tags":[188,51153,51152],"class_list":["post-64616","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-a-nap-hirei","category-cikkek","category-hirek","category-vilag","tag-franciaorszag","tag-leminosites","tag-sp-global-ratings"],"_links":{"self":[{"href":"https:\/\/economic.karpat.in.ua\/index.php?rest_route=\/wp\/v2\/posts\/64616","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/economic.karpat.in.ua\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/economic.karpat.in.ua\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/economic.karpat.in.ua\/index.php?rest_route=\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/economic.karpat.in.ua\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=64616"}],"version-history":[{"count":1,"href":"https:\/\/economic.karpat.in.ua\/index.php?rest_route=\/wp\/v2\/posts\/64616\/revisions"}],"predecessor-version":[{"id":64618,"href":"https:\/\/economic.karpat.in.ua\/index.php?rest_route=\/wp\/v2\/posts\/64616\/revisions\/64618"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/economic.karpat.in.ua\/index.php?rest_route=\/wp\/v2\/media\/64617"}],"wp:attachment":[{"href":"https:\/\/economic.karpat.in.ua\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=64616"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/economic.karpat.in.ua\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=64616"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/economic.karpat.in.ua\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=64616"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}