France: Public Deficit Rises to 5.5% in 2023

The public deficit in France has risen to 5.5 percent of GDP, surpassing government estimates in the budget proposal, according to official data. The French National Institute of Statistics announced that in 2023, the public deficit reached 5.5 percent of GDP, while public debt decreased to approximately 111 percent of GDP, down from 112 percent at the end of 2022. The institute specified that the public deficit amounts to 154 billion euros (around 167 billion dollars), compared to 4.8 percent in 2022 and 6.6 percent in 2021. The statement added that "revenues slowed significantly in 2023, increasing by 2 percent after 7.4 percent in 2022." The institute revealed that "expenditure continues to decline, reaching 57.3 percent of GDP, down from 58.8 percent in 2022."