France's government budget deficit narrowed to EUR 172.49 billion in the January-November period of 2024, compared to EUR 197.97 billion during the same period in 2023.
France budget deficit narrows in January-November
Total revenues increased by 5% year-on-year to EUR 312.04 billion, while expenditures decreased by 2.4% to EUR 462.06 billion. At the same time, the Treasury special accounts, which monitor the balance of targeted revenues and outlays, such as receipts from local governments, reported a shortfall of EUR 22.47 billion, slightly wider than the EUR 21.87 billion deficit recorded a year earlier.
Improvement aligns with government's fiscal plan
The improvement in the budget deficit aligns with the French government's broader fiscal consolidation efforts aimed at meeting EU deficit reduction targets. These measures include a focus on curbing non-essential spending, streamlining administrative costs, and implementing structural reforms to boost long-term growth. However, challenges remain, as elevated public debt levels, ongoing inflationary pressures, and geopolitical uncertainties could strain the fiscal outlook.
