A joint committee of French lawmakers from the National Assembly and the Senate failed on Friday to reach a compromise on the country's 2026 budget, said the National Assembly on its social media X, highlighting deep divisions that mean France will not have a state budget in place by year end, reported Xinhua. "In accordance with the deadlines set by the Constitution and organic laws, the parliament will therefore not be able to vote on a budget for France before the end of the year," French Prime Minister Sebastien Lecornu announced on his X account. Lecornu said he would convene key political leaders to consult on the steps needed to protect the French people and identify conditions for a possible solution. He said earlier that the government would not invoke Article 49.3 of the Constitution, which allows legislation to be adopted without a parliamentary vote, as done in previous years. Lawmakers are now expected to pass a stopgap measure rolling over the 2025 budget into next year, before resuming work on a final 2026 budget in the new year. On Tuesday, parliament narrowly approved the social security budget bill, a key component of the government's broader spending plans. France, the eurozone's second-largest economy, is under pressure to rein in its deficit and soaring debt, but efforts have been hampered by a political deadlock. Lecornu's minority government has little room for manoeuvre in France's fractious parliament, where budget battles have already ousted his two predecessors over cost-cutting measures in a little over one year.