If he recognized an “accident” in 2023, the Minister of the Economy assured that France has corrected the situation for the 2024 financial year.
Bruno Le Maire, in Paris, March 6, 2024 (AFP / DIMITAR DILKOFF)
Asked about the public deficit slippage on BFMTV, Bruno Le Maire assured on Wednesday June 27 that the State had “3 billion euros in excess tax revenue” compared to its forecasts.
“We had an accident, I freely admit it”
“I can already tell you that our tax revenues today are good. As I speak, we have 3 billion euros in excess tax revenues compared to what was forecast in May 2024. This is good news,” he said. In 2023, the public deficit had slipped to 5.5% of GDP, more than expected by the government, which at the beginning of the year attributed this slippage to tax revenues of 21 billion euros lower than expected last year.
“We had an accident. I readily admit it. In 2023, everyone fell on us. There was an accident in revenue, we are at 5.5 (% of GDP) instead of being in below 5”, recognized the minister, while France was singled out by the European Commission for its heavy public deficit.
“In 2024, we have taken the necessary decisions to be at 5.1 (% of GDP). In 2025, we should be at 4.1% (…) in 2027, we will be at 3”,
within the limits provided by the European Commission, he continued.
The minister, who is not running in the legislative elections, has also once again presented “the implementation of the program of the National Rally or the New Popular Front” as a scarecrow for the country’s finances.
“Either they are lying and they will not do what they said and they will make savings at the expense of the French or will increase taxes to keep this objective below 3%. Either they are not lying and they will be, figures at the “support, above the 7% deficit in the years to come”, he estimated.
