France: The fall in tax revenue caused the budget deficit to widen in 2023

Enlargement of the budget deficit above the targets for 2023 recorded by it , strengthening pressure on the government of Emanuel Macron. The deficit in France’s economy rose in 2023 to 5.6%, surpassing estimates for 4.9%. According to French Finance Minister Bruno Lemer, the expansion of the deficit is due to the fall in tax revenues due to the slowdown in inflation. However, he pointed out that expenditure did not go out of control and neither has the country’s economic growth been hit. He added that France is on track to achieve the 3% deficit target by 2027 as it moves towards the end of Macron’s second term.