French Economy Minister Bruno Le Maire is under pressure as France's credit rating is downgraded from 'AA' to 'AA-' by S&P.

The downgrade cites concerns over lower-than-expected growth and political fragmentation hindering reforms.

This is the first downgrade since 2013, putting France on par with the Czech Republic and Estonia.

President Macron's leadership is being scrutinized, with doubts about extremist parties gaining ground.

Le Maire attributes the downgrade to Covid pandemic spending, raising questions about Macron's administration's financial management.

The government aims to reduce the deficit to below three percent by 2027 despite rising debt-to-GDP ratio.

S&P's stable outlook for France relies on economic growth supporting budgetary consolidation.

Critics warn of investor deterrence and debt repayment challenges.

The upcoming European elections will test voter sentiment towards Macron's handling of the economy.

The government works to restore public finances and avert further economic turmoil.