2024-03-26 18:19:13
On March 19, 2020, Bruno Le Maire presented to the Council of Ministers the first amending budget for the health crisis, the one which would pave the way for “whatever it takes”. Four years later, almost to the day, the return to budgetary reality is brutal for the Minister of Economy and Finance and the entire government team of Emmanuel Macron.
The announcement by INSEE this Tuesday morning of a deficit reaching -5.5% of GDP places the executive in a delicate situation. A gulf separates this figure from the government’s objective of -4.9% – although not wildly ambitious after the -4.8% for 2022 – which was again reaffirmed at the end of last year. The results are not much better for public debt: certainly, it has fallen to 110.6% compared to 111.8% at the end of 2022, but we remain far from the official forecast of 109.7%.
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#slippage #deficit #puts #government #wall