Former French prime minister Édouard Balladur died in Paris on Monday at the age of 97, his family told AFP.
A funeral mass will be held in a strictly private family setting, they added.
Born in Turkey in 1929, Balladur began his political career in the 1960s in the entourage of Georges Pompidou. He later became economy minister, overseeing a major wave of privatisations in France.
He became prime minister in 1993, while his long-time political ally Jacques Chirac prepared for the 1995 presidential election. His government included future president Nicolas Sarkozy and former prime minister François Fillon.
As prime minister, Balladur continued to push ahead with privatisations. He also cut income tax and introduced reforms to pension rules.
In the 1995 presidential election, he unexpectedly ran against his former friend and rival Jacques Chirac. Balladur won 18.5% of the vote and was eliminated in the first round.
He subsequently called on his supporters to back Chirac, who went on to win the election.
After his defeat, Balladur gradually withdrew from the front line of French politics. Under President Nicolas Sarkozy, however, he was given several further assignments, including work on institutional reform and France's territorial organisation.
He remained an influential figure on the French right well into old age.
