France’s Public Deficit Reaches 5.8% in 2024, Slightly Better Than Expected

The deficit, confirmed by Insee, remains one of the highest in the Eurozone, with public debt hitting a record €3.3 trillion.

France's public deficit for 2024 was confirmed at 5.8% of GDP, slightly better than the 6% initially forecast but far from the 4.4% target set in 2023.
Public debt reached a record €3,305.3 billion, equivalent to 113% of GDP, making it one of the highest in the Eurozone after Greece and Italy.
Government spending grew by 3.9% in 2024, reaching 57.1% of GDP, while revenue growth lagged at 3.1%, exacerbating fiscal challenges.
The government remains committed to reducing the deficit to 5.4% in 2025 and below the EU-mandated 3% by 2029, despite political fragmentation and economic pressures.
A public finance alert committee is set to convene in April 2025 to address ongoing fiscal challenges and prepare for constrained 2026 budget planning.