France is set to present its plan to reduce public debt to the European Commission by the end of October, according to EU officials on Monday.

The deadline has been moved forward from the initial expectation of late next month.

This submission is part of the European Union's new framework to manage public debt following the COVID-19 pandemic, which led many countries to increase borrowing in efforts to prevent economic collapse. France's medium-term fiscal strategy includes reforms, investments, and debt reduction measures.

Under the revised EU rules, effective since April, member states with debt levels exceeding 60% of their gross domestic product (GDP) must submit a four- to seven-year plan for reforms and fiscal consolidation, ensuring a sustainable reduction of debt.

All member countries were required to submit their plans to the European Commission by September 20. However, as of last week, only two nations—Malta and Denmark—had done so. EU officials had initially indicated that France would likely submit its plan after October due to government transitions.

On Saturday, however, French President Emmanuel Macron's office announced a new cabinet, which will report to Prime Minister Michel Barnier, signaling progress on the delayed submission.