PARIS, Dec. 19 (Xinhua) -- 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.

"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. Enditem