Latest news with #CourtofAudit
LeMonde
04-06-2025
- Business
- LeMonde
France lacks storage solution for 280,000 cubic meters of low-level radioactive waste hazardous for 100,000 years
In mid-May, the French National Agency for Radioactive Waste Management (Andra) published a new estimate of the total cost for the Cigéo project: an industrial geological storage center intended to bury the most dangerous nuclear waste, which could cost between €26 billion and €37 billion over a 150-year period. In the midst of the nuclear sector's relaunch, the government needs to take a position on these figures before 2026, and the authorization to begin this unprecedented project is expected between 2027 and 2028. It was in this context that the Court of Audit, the national administrative court charged with conducting financial and legislative audits of public institutions, examined Andra's activities, a state-owned industrial and commercial agency created in 1991 and responsible for managing all waste produced by the nuclear sector. In a report published on Wednesday, June 4, the Court stated that the agency's financial situation was "sound and robust": thanks to the implementation of the "polluter pays" principle, the majority of its resources are provided by contributions from waste producers – mainly EDF (the national utility company), Orano (multinational nuclear fuel cycle corporation) and the French Alternative Energies and Atomic Energy Commission (CEA).
LeMonde
26-05-2025
- Business
- LeMonde
The deficit of France's social security is unsustainable
France's social security system, which marks its 80 th anniversary this year, has never been in such an alarming state. Despite repeated warnings about the sustainability of its funding, nothing has been done about it. After a slight improvement after the Covid-19 crisis, its deficits have begun to grow once again, while measures to remedy the situation have been slow in coming. In response to the apathy shown by the government, the Court of Accounts, France's public audit institution, has changed its tone. Its report on the "implementation of the social security budget," published on Monday, May 26, speaks of a risk of a "liquidity crisis" it says could lead the system to a "default on payments." While the alarmist language is unprecedented, the dire state of the social security system's finances is not. The deficit, which was supposed to stabilize in 2024, ended up worsening by nearly €5 billion, and now exceeds €15 billion. Furthermore, it is set to deteriorate further this year, mainly due to an imbalance in the healthcare branch. The €22 billion deficit forecast for the social security budget passed in February already appears difficult to sustain. Despite a few cost-saving measures implemented in 2025, the situation is expected to continue to deteriorate, with the deficit surpassing €24 billion in 2028, if nothing is done. Until now, France has relied on temporary fixes to endlessly postpone the painful but inevitable measures needed to restore balance to its social security system's finances. The Court of Audit has now warned that this approach is reaching its limits. Starting this year, the CADES, the agency responsible for amortizing the social security system's debt, will no longer have enough resources to fulfill its role. The Central Agency for Social Security Bodies (ACOSS), which is supposed to take over from it, may face difficulties refinancing itself on short-term capital markets, the report noted. To avoid the risk of default, one solution would be to change the law and extend the lifespan of CADES. Yet this stopgap measure would only buy some time, and would not even halt the deficits, which are set to get worse. The continued widening of the social security system's deficit is unacceptable. France is experiencing neither an economic nor a health crisis. There is, therefore, no justification for tolerating such imbalances, the costs of which will be borne by future generations. There is now a risk that social benefits may no longer be guaranteed. Waiting for this threat to materialize would be utterly irresponsible. Numerous reports have outlined ways to control spending and increase revenue, but none have been implemented due to a lack of political consensus. Unfortunately, that consensus now seems more elusive than ever. With no majority in the Assemblée Nationale, the government has struggled to make progress on social security funding. It knows that it cannot afford, next fall, to pass a social security budget as unambitious as the previous one, which allowed it to avoid a no-confidence vote. The critical state of the social security system's finances demands that Parliament step up and reach compromises. Even if these measures promise to be painful for the French people, refusing to act for political reasons would expose the country to a dangerous leap into the unknown.
Zawya
01-05-2025
- Business
- Zawya
African Organization of Supreme Audit Institutions (AFROSAI) Headquarters Agreement Inked in Rabat
An agreement was signed on Wednesday in Rabat, under which the Kingdom's capital will host the headquarters of the African Organization of Supreme Audit Institutions (AFROSAI). The agreement, inked by Minister of Foreign Affairs, African Cooperation and Moroccan Expatriates Mr. Nasser Bourita and Secretary General of AFROSAI, First President of the Court of Audit Mrs. Zineb El Adaoui, specifies the Organization's operational framework in the Kingdom, its commitments and the privileges granted to its headquarters. The signing of this agreement follows the election of Morocco's Court of Accounts as Secretary General and host institution of AFROSAI's permanent headquarters, at the Organization's General Assembly held in Tripoli, Libya, on December 4-6, 2024. By hosting the headquarters of AFROSAI, Morocco, the crossroads of several regional and sub-regional representations working for promoting the African continent and the well-being of its peoples, is demonstrating firm commitment to foster all aspects of the rule of law. This is particularly with regard to supreme audit of public finances, to portraying its efforts in the framework of cooperative ties with African countries in terms of exchanging experience and expertise, and to sharing best practices in this field. In addition, this agreement constitutes a strategic lever to strengthen the Court of Audit's cooperation with its counterparts on an African scale, in line with the enlightened vision of His Majesty King Mohammed VI, and to reiterate the Kingdom's steadfast commitment to promoting South-South cooperation in all fields, making it an absolute priority. This cooperation will contribute to improving the performance of audit institutions, bolstering institutional and professional capacities, and enshrining ongoing cooperation between African supreme audit institutions. It will further support the establishment of solid institutions, promoting transparency and good governance, in order to respond optimally to the needs of populations and achieve sustainable social and economic growth across the continent. Distributed by APO Group on behalf of Kingdom of Morocco - Ministry of Foreign Affairs, African Cooperation and Moroccan Expatriates.
National News
15-04-2025
- Business
- National News
Jaber receives audit reports for 2003 and 2004, affirms support for accelerating state accounts review
NNA - Finance Minister, Yassine Jaber, on Tuesday welcomed President of the Court of Audit, Judge Mohammad Badran, the official audit reports for the 2003 and 2004 state accounts. The handover took place during a meeting in which the two discussed the Court's ongoing efforts to finalize account audits from 2003 through 2023. Minister Jaber expressed the Finance Ministry's readiness to provide financial support to the Court of Audit, including covering overtime hours, to help expedite the completion of all pending reports by the end of this year—an essential step toward approving the 2026 state budget. Earlier in the day, Minister Jaber also met with Canadian Ambassador to Lebanon Stefanie McCollum. Discussions focused on the general situation in the country, with Ambassador McCollum reaffirming Canada's support for the Lebanese government's reform efforts under the new presidential term.
