France's government said on Friday its 2025 belt-tightening budget was necessary to rein in its "colossal" debt burden as it faced criticism from the right and left for demanding unfair sacrifices on the French, Paralel.Az reports citing Reuters.

The government's 2025 budget, delivered on Thursday, contained plans for 60 billion euros ($65.5 billion) of spending cuts and tax hikes focused on the wealthy and big companies to tackle a soaring fiscal deficit.

Prime Minister Michel Barnier's minority government is facing pressure from Paris' European Union partners and financial markets, where France's risk premiums have surged in recent months.

"Facing a spiralling deficit, we must act and that is exactly why we presented a recovery budget yesterday. We absolutely need to regain control over our debt and our deficit," Finance Minister Antoine told France 2 TV.

Prime Minister Michel Barnier had promised the budget squeeze, equivalent to two percent of economic output, would spare the middle classes. Two-thirds of the 60 billion euro squeeze will come from spending cuts and the rest from tax hikes.

"This is a horror gallery from finance ministry technocrats. All we see is fiscal injustice and nowhere a durable improvement in the nation's finances," hard right lawmaker Jean-Philippe Tanguy said.

The budget bill could get a rough ride in parliament from opposition parties and Barnier may need to use special constitutional powers to bypass parliament, although that would probably prompt a no-confidence motion.

Tanguy's National Rally party holds the balance of power in the lower house of parliament and could determine whether Barnier's government survives a no-confidence motion.

Tanguy criticised plans to reduce tax breaks on payroll contributions on low-income workers, as well as plans to reduce the number of teachers because of declining numbers of school-age children.