French general-government accounts for 2008

Thibault Guyon, Patrice Izzo, Brigitte Poiblanc, Emilie Rodriguez, direction générale du Trésor et de la politique économique Anne Uteza, direction générale des Finances publiques Luc Brière, département des Comptes nationaux, Insee

France’s public deficit under the Maastricht Treaty definition rose €14.6 billion to €65.9 billion in 2008. As a percentage of GDP, it increased from 2.7% in 2007 to 3.4% in 2008. Most of the rise was due to central-government accounts. Taxes and compulsory levies as a percentage of GDP eased 0.4 points to 42.8% owing to the weak 1.6% increase in tax revenues. Public spending as a share of GDP moved up 0.4 points to 52.7%. The public debt under the Maastricht Treaty definition reached €1,327.1 billion at end-2008, having risen 4.3 points to 68.1% of GDP. However, net public debt represents a smaller share at 61.3%, and grew by a slower 2.1 points.

Insee Première
No 1237
Paru le : 15/05/2009