The public deficit could be less than expected. Asked about the slippage in public finances, the Minister of the Economy Bruno Le Maire assured Wednesday evening on BFMTV that the State had “3 billion euros in excess tax revenue” compared to its forecasts.
“I can already tell you that our tax revenues today are good. As I speak to you, we have 3 billion euros in excess tax revenue compared to what was forecast in May 2024. This is good news,” he said.
“We had an accident”
In 2023, the public deficit had slipped to 5.5% of GDP, while the government was forecasting 4.9%. Bercy had attributed this slippage to tax revenues lower than expected by 21 billion euros, due to the economic slowdown.
“We had an accident. I readily admit it. In 2023, everyone has fallen on us. There was a revenue accident, we are at 5.5 [% du PIB] instead of being below 5,” admitted the minister. The European Commission did not fail to single out France on this point.
“In 2024, we have made the necessary decisions to be at 5.1 [% du PIB]. In 2025, we should be at 4.1% […] in 2027, there will be 3 of us,” continued Bruno Le Maire. That is, within the limits provided by Brussels.
The minister, who is not running for the legislative elections, has also once again presented the programs of the National Rally or the New Popular Front as a scarecrow for the country’s finances.
“Either they lie and they will not do what they said and they will save money at the expense of the French, or they will increase taxes to keep this objective below 3%. Either they are not lying and they will be, with supporting figures, above the 7% deficit in the years to come,” he estimated. The slippage of the French deficit is widely used, during this campaign, by detractors of the current government.
With AFP
