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fromThe Local France
4 days agoFrench budget deficit slightly better than feared
France's 2025 budget deficit was 5.1%, better than the predicted 5.4%, aiding plans to reduce it under 5% by 2026.
The federal government plans to spend a total of $7 trillion in fiscal 2025 but only bring in $5.16 trillion in revenue. That leaves a deficit of approximately $1.8 trillion. The big four expenditures Social Security, Medicare/Medicaid, debt interest and defense account for nearly three-quarters of national spending. All other programs for other Cabinet departments and hundreds of agencies, including for social services, infrastructure, farmers, Amtrak, and on and on spend about the same amount each year as the $1.8 trillion we incurred in debt.
No, because when you look at the debt to GDP ratio, we are stable as this country, and we are doing what it takes to invest our way out of the of the challenge that we have inherited from the from the Tory government. Bear in mind that when we came into office, we inherited a growth emergency. We had no growth, high taxation, low growth or no growth, and we have to break out of that cycle.