General Government Accounts 2023 – Insee Premiere

The public deficit is €153.9 billion in 2023, compared with €125.8 billion in 2022, or 5.5% of GDP, compared with 4.7% in 2022. Revenues slowed sharply, falling as a share of GDP, mainly due to weak growth in some taxable bases and, to a lesser extent, new tax cuts. While expenditures also fell as a share of GDP, the slowdown was less; driven by general price increases and indexed benefits, despite a decline in debt servicing costs. The general government deficit is driven mainly by the central government. However, local government deficits widened, while the surplus of social security funds increased. Public debt is 109.9% of GDP, compared with 111.2% in 2022.