French general-government accounts for 2008
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.