The public deficit in France rose by 5.5% of GDP in 2023
France’s public deficit rose to 5.5% of GDP in 2023, exceeding the government’s estimates in the draft budget, according to official data announced by the French National Institute of Statistics.
The statement also indicated that public debt has decreased to about 111% of GDP, compared to 112% at the end of 2022.
The size of the public deficit reached 154 billion Euros (about $167 billion), compared to 4.8% in 2022 and 6.6% in 2021, due to a slowdown in revenues by 2% in 2023, after an increase of 7.4% in 2022.
The data also showed a continued decline in spending to 57.3% of GDP in 2023, compared to 58.8% in 2022.
