Fitch Ratings said the French government’s latest fiscal-consolidation blueprint faces steep political and technical obstacles and is unlikely to be enacted in its current form. The agency noted that the draft relies heavily on additional tax measures and bookkeeping adjustments, offering few concrete spending reductions. Analysts warned that the plan does not fully account for France’s customary fourth-quarter spending surge, meaning the headline savings could prove illusory. Failure to pass a credible package would complicate Paris’s efforts to bring its deficit onto a clear downward path in line with European Union rules.