France’s state budget deficit narrowed to EUR 9.7 billion at the end of January 2026, compared with EUR 17.3 billion a year earlier. Total revenues rose sharply by 49.4 year-on-year to EUR 36.3 billion, supported by stronger VAT receipts and a significant increase in non-tax revenues, notably the reimbursement of unused endowments under past investment programs. Net tax revenues increased to EUR 28.7 billion, although income tax and corporate tax collections declined annually. Meanwhile, total expenditure rose by 4.6% to EUR 39.6 billion, driven by higher defense spending, increased investment outlays, and larger transfers to the European Union, partly offset by slightly lower operating costs and debt servicing expenses. Special Treasury accounts recorded a deficit of EUR 6.5 billion, widening from EUR 3.8 billion a year earlier, largely due to timing effects related to VAT transfers to local authorities. source: Ministere de l'Économie, des Finances, de l'Action et des Comptes publics, France

France recorded a government budget deficit of 9.70 EUR Billion in January of 2026. Government Budget Value in France averaged -62.33 EUR Billion from 1994 until 2026, 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 March of 2026.

France recorded a government budget deficit of 9.70 EUR Billion in January of 2026. 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 and -141.00 EUR Billion in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-02-03 07:45 AM
Budget Balance
Dec €-124.7B €-155.4B € -153B
2026-03-03 07:45 AM
Budget Balance
Jan €-9.7B €-124.7B €-16.9B
2026-04-02 06:45 AM
Budget Balance
Feb €-9.7B €-32.0B


Related Last Previous Unit Reference
Asylum Applications 7900.00 9290.00 persons Feb 2026
Credit Rating 83.00 Mar 2026
Fiscal Expenditure 39.58 510.23 EUR Billion Jan 2026
Government Budget -5.80 -5.40 percent of GDP Dec 2024
Budget Balance -9.70 -124.70 EUR Billion Jan 2026
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 36.34 387.74 EUR Billion Jan 2026
Government Spending 169203.00 168862.00 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
-9.70 -124.70 -4.21 -197.97 1994 - 2026 EUR Billion Monthly
Current Prices, NSA

News Stream
France Budget Deficit Narrows in January
France’s state budget deficit narrowed to EUR 9.7 billion at the end of January 2026, compared with EUR 17.3 billion a year earlier. Total revenues rose sharply by 49.4 year-on-year to EUR 36.3 billion, supported by stronger VAT receipts and a significant increase in non-tax revenues, notably the reimbursement of unused endowments under past investment programs. Net tax revenues increased to EUR 28.7 billion, although income tax and corporate tax collections declined annually. Meanwhile, total expenditure rose by 4.6% to EUR 39.6 billion, driven by higher defense spending, increased investment outlays, and larger transfers to the European Union, partly offset by slightly lower operating costs and debt servicing expenses. Special Treasury accounts recorded a deficit of EUR 6.5 billion, widening from EUR 3.8 billion a year earlier, largely due to timing effects related to VAT transfers to local authorities.
2026-03-03
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