BRUSSELS, Sept 23 (Reuters) - France will submit its plan to reduce public debt to the European Commission by the end of October, moving forward the submission date that was previously expected after the end of next month, EU officials said on Monday.

The submission of France's medium-term fiscal-structural plan of reforms, investment and debt reduction is part of the European Union's new framework for keeping debt under control after the COVID-19 pandemic forced many countries to borrow massively and spend to stave off economic collapse.

Under the new EU rules, which came into force in April, all countries with debt above the EU limit of 60% of gross domestic product have to agree with the Commission a four- to seven-year plan of reforms and consolidation to put debt on a sustainably downward path.

According to the rules, all countries should have sent in their reform and consolidation plans to the Commission by Sept. 20.

Last week only two - Malta and Denmark - had done so and the EU had received signals from Paris that the French plan would only come after October, because of a lack of government, EU officials said.

On Saturday, however, French President Emmanuel Macron's office unveiled a new cabinet that will report to Prime Minister Michel Barnier.

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https://www.reuters.com/markets/europe/france-submit-debt-cutting-plan-eu-by-end-october-2024-09-23/