France Budget Deficit Narrows in Jan-May

2026-07-02 06:57 By Kyrie Dichosa 1 min. read

France's state budget deficit narrowed to EUR 93.3 billion in January–May 2026 from EUR 94.0 billion in the same period last year, as revenue growth outpaced spending.

General budget revenues increased 6.0% year-on-year to EUR 149.5 billion, while expenditures rose 3.5% to EUR 222.1 billion.

Excluding tax refunds and rebates, net general budget revenues climbed 6.9% to EUR 147.3 billion, driven by higher corporate tax, VAT, personal income tax, and non-tax receipts.

Meanwhile, net general budget expenditures rose 2.9% to EUR 195.0 billion, reflecting higher debt servicing costs, increased military spending, and larger public energy service charges.

Special Treasury accounts posted a EUR 20.7 billion deficit, slightly wider than the EUR 20.5 billion shortfall recorded a year earlier.



News Stream
France Budget Deficit Narrows in Jan-May
France's state budget deficit narrowed to EUR 93.3 billion in January–May 2026 from EUR 94.0 billion in the same period last year, as revenue growth outpaced spending. General budget revenues increased 6.0% year-on-year to EUR 149.5 billion, while expenditures rose 3.5% to EUR 222.1 billion. Excluding tax refunds and rebates, net general budget revenues climbed 6.9% to EUR 147.3 billion, driven by higher corporate tax, VAT, personal income tax, and non-tax receipts. Meanwhile, net general budget expenditures rose 2.9% to EUR 195.0 billion, reflecting higher debt servicing costs, increased military spending, and larger public energy service charges. Special Treasury accounts posted a EUR 20.7 billion deficit, slightly wider than the EUR 20.5 billion shortfall recorded a year earlier.
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