A new French government is named after the previous one collapsed in a budget fight

PARIS —  French President Emmanuel Macron’s office announced a new government Monday, after the previous Cabinet collapsed in a historic vote prompted by fighting over the country’s budget.

Newly named Prime Minister Francois Bayrou put together the government that includes members of the outgoing conservative-dominated team and new figures from centrist or left-leaning backgrounds.

Coming up with a 2025 budget will be the most urgent order of business. The new government enters office after months of political deadlock and pressure from financial markets to reduce France’s colossal debt.

No single party holds a majority in the National Assembly. Bayrou’s decades of political experience are seen as key in efforts to restore stability. Marine Le Pen’s far-right party helped bring down the previous government, and Bayrou’s Cabinet will seek to rely on moderate lawmakers from the right and the left to stay in power.

Banker Eric Lombard will be finance minister, a crucial post when France is working to fulfill its promises to European Union partners to reduce its deficit, estimated to reach 6% of its gross domestic product this year. Lombard briefly worked as an advisor to a Socialist finance minister in the 1990s.

Hard-right Bruno Retailleau stays on as interior minister, with responsibility for France’s security and migration policy. Sebastien Lecornu, who has been at the forefront of France’s military support for Ukraine, remains defense minister, and Foreign Minister Jean-Noel Barrot, who has traveled extensively in the Mideast in recent weeks, also retains his post.

Among new faces are two former prime ministers. Manuel Valls will be minister for overseas affairs, and Elisabeth Borne takes the education ministry.