France’s central government budget deficit narrowed to EUR 124.7 billion in the January-December period of 2025, down from EUR 156.3 billion a year earlier. Government revenues rose 8.6% year-on-year to EUR 387.7 billion, supported by higher net income tax, corporate tax, VAT, and other net tax receipts. Non-tax revenues increased by 3.4%, reflecting higher dividend receipts, administrative fines, and other miscellaneous receipts, despite lower EU contributions linked to the co-financing of the National Recovery and Resilience Plan. Meanwhile, total expenditures slightly declined by 0.2% to EUR 510.2 billion, driven by higher debt service costs, increased spending on energy services and military operations, and higher transfers to local authorities and the EU, partly offset by reduced payments to public operators and the removal of the Covid-19 debt amortization program. Special Treasury accounts posted a EUR 2.3 billion deficit, improving from EUR 2.4 billion in December 2024. source: Ministere de l'Économie, des Finances, de l'Action et des Comptes publics, France

France recorded a government budget deficit of 124.70 EUR Billion in December of 2025. Government Budget Value in France averaged -62.46 EUR Billion from 1994 until 2025, reaching an all time high of -4.21 EUR Billion in January of 2000 and a record low of -197.97 EUR Billion in November of 2023. This page provides the latest reported value for - France Government Budget Value - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. France Government Budget Value - data, historical chart, forecasts and calendar of releases - was last updated on February of 2026.

France recorded a government budget deficit of 124.70 EUR Billion in December of 2025. Government Budget Value in France is expected to be -36.00 EUR Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the France Government Budget Value is projected to trend around -143.00 EUR Billion in 2027, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-01-13 08:30 AM
Budget Balance
Nov €-155.4B €-136.2B €-165.0B
2026-02-03 07:45 AM
Budget Balance
Dec €-124.7B €-155.4B € -153B
2026-03-03 07:45 AM
Budget Balance
Jan €-124.7B


Related Last Previous Unit Reference
Asylum Applications 8230.00 8845.00 persons Dec 2025
Credit Rating 83.00 Feb 2026
Fiscal Expenditure 510.23 468.71 EUR Billion Dec 2025
Government Budget -5.80 -5.40 percent of GDP Dec 2024
Budget Balance -124.70 -155.40 EUR Billion Dec 2025
Government Debt 3482.20 3416.30 EUR Billion Sep 2025
Government Debt to GDP 113.00 109.80 percent of GDP Dec 2024
Government Revenues 387.74 331.76 EUR Billion Dec 2025
Government Spending 169423.00 168958.00 EUR Million Dec 2025
Government Spending to GDP 57.30 56.90 percent of GDP Dec 2024
Holidays
Military Expenditure 64675.00 59492.00 USD Million Dec 2024


France Government Budget Value
The government budget balance is the difference between government revenues and expenses, including the treasure special component. The budget is balanced when outlays equal to receipts, the country reports budget surplus when revenues are higher than expenses and deficit when expenses exceed the revenues.
Actual Previous Highest Lowest Dates Unit Frequency
-124.70 -155.40 -4.21 -197.97 1994 - 2025 EUR Billion Monthly
Current Prices, NSA

News Stream
France Budget Deficit Narrows in 2025
France’s central government budget deficit narrowed to EUR 124.7 billion in the January-December period of 2025, down from EUR 156.3 billion a year earlier. Government revenues rose 8.6% year-on-year to EUR 387.7 billion, supported by higher net income tax, corporate tax, VAT, and other net tax receipts. Non-tax revenues increased by 3.4%, reflecting higher dividend receipts, administrative fines, and other miscellaneous receipts, despite lower EU contributions linked to the co-financing of the National Recovery and Resilience Plan. Meanwhile, total expenditures slightly declined by 0.2% to EUR 510.2 billion, driven by higher debt service costs, increased spending on energy services and military operations, and higher transfers to local authorities and the EU, partly offset by reduced payments to public operators and the removal of the Covid-19 debt amortization program. Special Treasury accounts posted a EUR 2.3 billion deficit, improving from EUR 2.4 billion in December 2024.
2026-02-03
France Budget Deficit Narrows in January-November
France’s central government budget deficit narrowed to EUR 155.4 billion in the January-November period of 2025, from EUR 172.5 billion in the same month a year earlier. Government revenues rose 6.3% year-on-year to EUR 331.8 billion, supported by higher net income tax , corporate tax, and other net tax receipts. Non-tax revenues also increased by 3%, reflecting higher dividend receipts, administrative fines, and treasury withdrawals, despite lower EU contributions linked to the co-financing of the National Recovery and Resilience Plan. Meanwhile, total expenditures went up by 1.4% to EUR 468.7 billion, driven by temporary debt service costs, increased spending on energy services and military operations, and higher transfers to local authorities and the EU, partly offset by reduced payments to public operators and the removal of the Covid-19 debt amortization program. Special Treasury accounts posted a EUR 18.5 billion deficit, improving from EUR 22.5 billion in November 2024.
2026-01-13
France Budget Deficit Narrows in January-October
France's central government budget deficit narrowed to EUR 136.2 billion at the end of October 2025, from EUR 157.4 billion in the same month of the previous year. Government revenues grew by 6.5% year-on-year to EUR 299.2 billion, primarily driven by increased net personal income tax, net corporate tax, and other net tax revenues. Non-tax revenues declined, dragged down by lower receipts from the EU in line with the expected schedule for co-financing part of the National Recovery and Resilience Plan (PNRR). Meanwhile, fiscal expenditures fell by 0.3% year-on-year to EUR 426.7 billion, weighed down by reductions in payments to several public operators and by the elimination of program 369, “Amortization of State Debt Related to Covid-19,” in the 2025 Initial Budget Act. The special Treasury accounts posted an EUR 8.7 billion deficit in October, down from EUR 10.3 billion a year earlier.
2025-12-02