PARIS (AP) — France’s new prime minister announced plans Wednesday to cut 21 billion euros ($29 billion) from state pensions, health care and the social safety net as a part of a 50 billion-euro effort to rein in the country’s debt and deficit.

Manuel Valls said his top priority is curbing France’s government spending, which is among the highest in the world at 57 percent of the country’s gross domestic product. But he vowed his Socialist-led government will maintain benefits for those with the lowest incomes.